PART 2Basic elements of the UK ETS
CHAPTER 1Establishment of the UK ETS and requirement for review
UK Emissions Trading SchemeI116
1
This Order establishes a trading scheme, known as the “UK Emissions Trading Scheme” or “UK ETS”.
2
The purpose of the UK ETS is to limit, or encourage the limitation of, the emission of greenhouse gases M1 in the trading period from the carrying out of—
a
regulated activities by operators of installations; and
b
aviation activities by aircraft operators.
Review of UK ETSI217
1
The UK ETS authority must before each review date—
a
carry out a review of the operation of the UK ETS;
b
publish a report setting out the conclusions of the review.
2
The review dates are 31st December 2023 and 31st December 2028.
3
The report must in each case—
a
review the operation of the UK ETS (including assessing the extent to which the purpose of the UK ETS is being achieved);
b
make any recommendations that the UK ETS authority considers appropriate as to the future operation and purpose of the UK ETS.