The European Commission has adopted two proposals to finalise an agreement between the European Union and Switzerland to link the European CO2 Emissions Trading System (EU ETS) to that of Switzerland. Switzerland will keep a separate system from the EU ETS but participants in the EU ETS will be allowed to use allowances from the Swiss system for compliance, and vice versa.
Following several years of negotiations, the EU and Switzerland have agreed on criteria and arrangements for linking the systems. Both proposals will now be discussed by the Council, which will require the consent of the European Parliament in order to conclude the agreement. Signature of the agreement could take place before the end of this year. Once technical arrangements for linking the two systems are finalised, the agreement will then be ratified by both sides. The agreement will enter into force at the start of the year following ratification, which is not expected before 2019.
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