Cancelling transactions

Incorrect transactions

Transactions which an account holder has incorrectly initiated and verified – e.g. transactions that should not have been carried out; an incorrectly entered number of the receiving account; an incorrect number of emission allowances specified, etc. – are basically final and irrevocable and cannot be cancelled or reversed. This does not prevent the two account holders from jointly agreeing to carry out a new transaction which rectifies the incorrect transaction; also a court of law, for instance, can determine whether an account holder who has groundlessly received a number of emission allowances should carry out a new transaction which returns the same number of emission allowances to the account holder whose representatives initiated and verified an incorrect transaction.

In case of a surrender or deletion transaction, the transaction may be cancelled on certain terms, however, which include that the Danish Business Authority must receive a written statement from the account holder or one or more of the authorized representatives stating that the transaction was unintentionally or incorrectly initiated. This written statement must be received by the Danish Business Authority no more than ten (10) working days after the transaction was carried out. See page 8 of the guidline.

Fraudulent transactions

If an account representative suspects that a transaction has been initiated on the basis of a criminal act, the account holder is obligated to immediately report that to the Danish police and to The Danish Emission Trading Registry team.

For EU accounts

Account representatives can stop a direct transaction up to two hours before the transaction would be executed in the registry. Thereafter the transaction cannot be stopped by account representatives. In critical situations account representatives or account holders can contact the Danish Emission Trading Registry team and request them to cancel the transaction. The Danish Emission Trading Registry team is able to cancel direct transaction up to the time of execution in the registry.

Be aware that trusted transactions, cannot be stopped.

For Kyoto accounts

If an account representative suspects that a transaction has been initiated on the basis of a criminal act, the account representative may, up to two hours before the expiry of the 26-hour transaction delay, request the Danish Business Authority to cancel the transaction on behalf of the account representative.

If there is suspicion of fraud in the Danish EU ETS Registry or the Danish Kyoto Registry

In such instances, the account holder must contact the Danish Emission Trading Registry immediately.

The account holder must report the suspected fraud to the police and send a copy of this report to the Danish Business Authority within seven (7) calendar days. See Article 39 (4) of the Registry Regulation (389/2013/EU) or article 36 of Registry regulation (2019/1122/EU).