On Wednesday 27 November, the European Commission announced that the Joint Committee under the EU and Swiss Linking Agreement had finalised the 2025 arrangements for the transfer of emission allowances between the EU and Swiss Emissions Trading Systems (ETS). This follows the agreement on the linking of their ETS systems, which came into force on 1 January 2020.
Thanks to this linking, allowances from one system can become valid for compliance purposes in the other system, with physical transfers possible since September 2020.
As from 2024, transfers to the other registry are performed daily (Monday to Friday), except on certain specific dates, and the 2025 calendar reflects the 2024 arrangements, running from January to December 2025.
Any changes to the 2025 transfer calendar will be published at least five working days in advance, with the exception of short-term adjustments due to unforeseen circumstances.
Allowance transactions initiated by market participants are executed on the next working day, after the transaction delay of the registry where the request is initiated (26 hours for the EU and 24 hours for Switzerland). (Original version in French by Pauline Denys)