The Joint Committee under the EU and Swiss Linking Agreement agreed on a minor change of dates on the previously published 2021 calendar for the transfers of emission allowances between the registries of the EU Emissions Trading System and the Emission Trading System of Switzerland.
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.
According to the current linking arrangements, transfers to the other system (registry) are performed on certain predefined dates. In order for the market to take into account the period between the initiation and execution of transactions, the Joint Committee adopted the calendar for the transfers of allowances between the two registries in 2021.
The present calendar replaces the calendar published on 27 November 2019. The replacement became necessary, as registries of both the EU and Switzerland will be closed on 5 April 2021 and 24 May 2021. Therefore, these dates are replaced by 7 April 2021 and 26 May 2021, respectively.
The calendar covers a period of 12 months, starting from January and ending in December 2021. In that period, the transfer of allowances will be executed 29 times. Transfers will generally take place on Monday twice a month with the exception of 5 April and 24 May, when the transfer of allowances will be executed on Wednesday, 7 April and Wednesday, 26 May. Before the surrendering deadline for allowances on 30 April and the delivery date of the most liquid derivative contract for allowances in December, the transfers will be executed more often.
Any potential changes to the calendar will be published at least one month in advance, with the exception of short-term notices due to unforeseen temporary closures of the registry link (e.g. force majeure, security issues). Information on 2022 transfers will be published well in advance before end of 2021.
Transactions of allowances between both systems can be initiated at any moment by market participants. The transactions will then be executed on the next date indicated in the table below 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 registry of the ETS of Switzerland).
Dates for the execution of transfers between the registries in 2021
- Publication date
- 1 March 2021
- Directorate-General for Climate Action