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Clifford Chance

Clifford Chance


Extension and Reform of the EU Emissions Trading System

20 July 2023

On 16 May 2023, legislation extending and reforming the EU Emissions Trading System was adopted.

The revisions bring shipping into the EU ETS for the first time, establish a parallel emissions trading system for buildings and transport, and make a wide range of other changes to the EU ETS aimed at implementing the EU's 'Fit for 55' initiative. This briefing looks at the key changes.

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