PART 2Basic elements of the UK ETS
CHAPTER 1Establishment of the UK ETS and requirement for review
UK Emissions Trading Scheme16.
(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 ETS17.
(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.