New consolidated version: Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a system for greenhouse gas emission allowance trading within the Union and amending Council Directive 96/61/EC (Text with EEA relevance)Text with EEA relevance

A new consolidated version of Directive 2003/87/EC, the Directive on greenhouse gas emission allowance trading, was published in the Official Journal (OJ) of the EU. The Directive sets out the regulatory framework for establishing a system for such trading with the aim of reducing „greenhouse gas emissions in a cost-effective and economically efficient manner“.
The consolidated version contains the modifications made by Directive (EU) 2023/959 which brought under the scope of the Emission Trading Schemes those industries that were so far left out from the scheme and made necessary adjustments to the 2003 Directive to reach the carbon neutrality goals of the EU by 2050 and the interim goal set out in the Fit for 55 legislative package. The modifications were far-reaching and ranged from the inclusion of the maritime sector in the Trading Scheme, to the adjustment of benchmark levels for the allocation of free emission allowances. Please see EventID 21157 in this context for more detailed information on the amendments.