Trading in emission allowances and credits

In order to trade allowances you need to have an account in the Danish EU ETS Registry. On this page you can read about how to trade allowances and credits, and what you need to be aware of in trading with the UK registries.

  • Updated 16. November 2023

Every holder of an account in the Danish EU ETS Registry may trade with CO2 emission allowances between accounts in the EU ETS Registry. Since September 21st, 2020, it has also been possible to transfer CO2 allowances between the EU ETS Registry and the Swiss Emission Trading Registry. The allowances which can be traded are EU General Allowances (EUA), EU aviation allowances (AEUA), Swiss general allowances (CHU) and Swiss aviation allowances (CUHA).

Since September 9th, 2023, CER credits can no longer be traded between Kyoto registries nor on market platforms. CER credits can still be kept in Kyoto accounts and can be transferred between accounts which are in the same national registry and are of the same account type, E.g. DK-121-XXXX-0-X. Types of carbon credits known as long-term certified emission reductions (lCER) or temporary certified emission reductions (tCER) cannot be transferred to or between accounts in the Kyoto registry.

There are no limits to the volume of a transaction as a default, but it is possible for account holders to set limits for transactions in the EU ETS Registry. It is not possible to transfer more emission allowances or credits than are held in your account. No service charges are linked to the individual transactions, but an annual service charge for each account is payable to the Danish Business Authority.

Account holders must enter into their own agreements concerning price; allowance/credit volume; transaction date, etc., with the party with whom they wish to trade. Financial transactions relating to the purchase and sale of emission allowances and credits are to take place outside the registries and do not have to be notified to the Danish Business Authority. In this context, the sole purpose of the registries is to register ownership of the emission allowances or credits.

Trading with UK registries

Since May 1st 2021, UK is no longer a part of the EU ETS Registry, and there can be no transfers of emission allowances between UK and the EU ETS Registry.

Credits (CER) can no longer be transferred between UK´s Kyoto Registry and the Danish Kyoto Registry.

You can read about the change of the EU’s Registry Regulation in view of the UK's withdrawal of the EU Emission Trading System on EUR Lex.

Overview of units that may be held in the various registry accounts
  Operator holding account Aircraft operator holding account Trading account Person holding account in the Kyoto registry
CER       X*

* CERs may be kept on EU ETS and Kyoto accounts until the commitment period have been completed.