2023 arrangement for the execution of transfers between the emission trading registries of the EU and Switzerland

The Joint Committee under the EU and Swiss Linking Agreement agreed on the 2023 arrangements for the transfers of emission allowances between the registries of the EU Emissions Trading System and the Swiss Emissions Trading System.

The Agreement between the EU and Switzerland on the linking of their Emission Trading Systems entered into force on 1 January 2020. In line with the Agreement, the emission allowances of the Emission Trading System of Switzerland became valid for compliance purposes in the EU Emissions Trading System and vice versa. As of September 2020, the linking enables the physical transfer of emission allowances between the two systems.

As from beginning of 2023 and in accordance with the current linking arrangements, transfers to the other system (registry) are performed on a regular basis every Tuesday and Thursday except for the dates listed below. The 2023 arrangements provide for more dates for the execution of transfers between the emissions trading system. It covers a period of 12 months, starting from January and ending in December 2023.

Any potential changes to these arrangements will be published at least one month in advance except short-term notices due to unforeseen temporary closures of the registry link (e.g. force majeure, security issues). Any changes to the transfer calendar will be published at least five working days in advance, except short-term notices on changes due to unforeseen temporary closures of the registry link (e.g. force majeure, security issues). Cancelled transfer dates will not be rescheduled unless specifically announced.

Information on 2024 arrangements will be published well in advance before end of 2023.

Transactions of allowances between both systems can be initiated at any moment by market participants. The transactions will then be executed on the next Tuesday or Thursday in accordance with the rules applicable in the registry where the request is launched, e.g., only after the transaction delay of the respective registry (26 hours in the European Union registry, 24 hours in the Swiss registry).