|Policy status:||In Force|
2012 (20 December)
|Policy Type:||Regulatory Instruments, Economic Instruments>Market-based instruments>GHG emissions trading, Economic Instruments, Economic Instruments>Market-based instruments|
|Policy Target:||Energy Sector, Framework/ Multi-sectoral Policy|
|Agency:||The Ministry of Agriculture and Fisheries, Food and Environment (MAPAMA), Spanish Climate Change Office.|
|Legal References:||Directive 2003/87/EC of 13 October 2003 establishing a scheme for greenhouse gas emission allowance trading within the Community. Modified by Directive 2009/29/CE. Law 1/2005 of 3 March 2005, establishing a scheme for greenhouse gas emission allowance trading (transposing the EU ETS Directive to the Spanish legal system). Modified by Law 13/2010. Royal Decree 1264/2005 of 21 October. Royal Decree 301/2011, of 4 March. Royal Decree 1722/2012 setting different aspects of the allocation of emission allowances.|
The Spanish government approved in September 2004, a Decree/Law which regulated the Spanish emission trading system. The Decree included the establishment of a National Registry, managed by the Ministry of Environment, which handles all the data referring to the emission rights. It also considers the creation of an Interministerial Commission to analyse and approve Clean Development Mechanism (CDM) projects. This Commission will act as National Authority and will be constituted by members of four ministries and the Presidents Economic Office.
The Royal Decree of 2012 regulates some formal aspects of emissions trading allocation, required competence and procedural aspects and clarifies the obligations of the trading facilities.
The European Emission Trading Scheme (EU ETS), established through Directive 2003/87/EC, is a European-wide market-based instrument aiming to achieve a reduction of greenhouse gas emissions in the energy and industrial sectors. The environmental target of the scheme is determined through the allocation cap, which constitutes the maximum number of emission allowances that are put into circulation and, therefore, limits the maximum amount of greenhouse gas emissions from the regulated sectors. In the 3rd Phase of the scheme, the allocation ceiling for 2013 has been defined, with a linear reduction factor of 1.74% per annum, which enables reaching the reduction target of 21% with respect to 2005 levels by 2020.
The Decree Law 5/2004 transposed, as an urgent measure, the Directive 2003/87/EC into the Spanish legal framework. This Decree Law was afterwards validated through the Law 1/2005 which was modified by Law 13/2010.
Additionally, Spanish Government has been adopting and implementing secondary regulation.
Last modified: Fri, 26 Jan 2018 14:16:47 CET