International Emissions Trading Association: Difference between revisions

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Good website, with downloadable legal docs, here: https://www.ieta.org/Trading-Documents  
Good website, with downloadable legal docs, here: https://www.ieta.org/Trading-Documents  
===Table of contents===
{{ieta TOC}}
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{{sa}}
*[[Emissions Anatomy]]
*[[Emissions Anatomy]]
*[[Collateralised emissions obligations]]
*[[Collateralised emissions obligations]]

Revision as of 09:17, 7 July 2023

EU Emissions Allowance Transaction Annex to the 2005 ISDA Commodity Definitions
Top Trumps®
Financial Weapons of Mass Destruction®



Emissions Allowance

Wanna stop frying the planet? Start here. Will it help? Who knows? The forward curve is in contango: who cares!

Docs Take your pick: IETA, ISDA or even EFET: none of them good. But at least you have flexibility in mediocrity 4
Amendability Nope. The EU can amend them, but you can’t. 0
Collateral They aren’t anyone’s obligations as such. In fact, they’re more like a sort of unofficial, made up, (hush) crypto. No credit risk! DNA
Transferability With an account at the Union Registry, sure! 7
Leverage Not unless you do a CEmO, and we just made that up. 0
Fright-o-meter Not directly scary as long as there is an EU with Greta Thundberg in it, but global warming is going to lead to Armageddon so, you know, indirectly. 5

Index: Click to expand:

Pro tip: for tons of information about EU ETS and EU financial services regulation see Michał Głowacki’s magnificent emissions-euets.com website.

Emissions trading documentation

ISDA: EU AnatomyEU Wikitext EU Nutshell (premium) • UK AnatomyUK Wikitext (to be merged into EU Anatomy)
IETA: IETA Master AgreementIETA WikitextIETA Nutshell (premium)

EFET: EFET Allowances AppendixEFET Allowances WikitextEFET Nutshell (premium)
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The International Emissions Trading Association (to its friends, “IETA”) is a loose association people who indulge in carbon trading. It also publishes the IETA Master Agreement, with vies with the ISDA Emissions Annex as the framework trading agreement of types for those wanting to punt around on carbon.

Good website, with downloadable legal docs, here: https://www.ieta.org/Trading-Documents

Table of contents

1 Subject of Agreement
2 Interpretation and Construction
3 Confirmation Procedure
4 General Obligations, Representations and Warranties
5 Allowance Transfers
6 Effecting Transfers
7 Option Transactions
8 Effect of Option Exercise
9 Billing and Payment
10 Euros
11 Taxes
12 Transfer or Acceptance Failure
13 Force Majeure and Suspension Event
14 Termination
15 Confidentiality
16 Assignment
17 Liabilities
18 Miscellaneous
Schedule 1 Definitions

Account Pair
Administrator Event
Affected Allowance
Affected Party
Affected Tax Party
Affiliate
Aircraft Operator
Allowance
Allowance Price
Allowance Type
American Option
Appropriate Source
Automatic Exercise
Aviation EU Allowance
Banking Day
Base Rate
Bermudan Option
Buyer
Buy-In
Buy-In Period
Call Option
Central Administrator
Central European Time
Change in Tax Law
Confidential Information
Confirmation
Contract Amount
Contract Value
Control and Profit Transfer Agreement
Controlling Party
Cost of Carry Amount
Cost of Carry Calculation Period
Cost of Carry Rate
Credit Rating
Credit Support Document
Credit Support Provider
Cross default threshold
Default Quantity
Defaulting Party
Delayed Delivery Date
Delayed Payment Due Date
Delivered Allowance Volume
Delivered Allowances
Delivering Party
Delivering Party’s Delivery Banking Day Location
Delivering Party’s Holding Account
Delivering Party’s Replacement Cost
Delivery Banking Day
Delivery Date
Directive
Early Termination Date
EEP Amount
EEP Status
Encumbrance Loss
Entity
EU Allowance
EU ETS Rules
EU ETS
EU
EURIBOR
Euro
European Option
EUTL
Event of Default
Excess Emissions Penalty
Exercise Period
Expert
Expiration Date
Expiration Time
Final Delivery Date
FM Affected Party
FM Affected Transaction
Fourth Validity Period
Force Majeure
GHG Reductions
GHG
Holding Account
Illegality Affected Transactions
Illegality Affected Party
Illegality
Indebtedness
Letter of Credit
Long Stop Date
Loss
Market Amount
Market Quotation
Agreement
Material Adverse Change
Member State
Member State Registry
Monthly Billing Cycle
National Administrator
No Encumbrances Obligation
Non-Defaulting Party
Operator
Option Transaction
Option
Original Affected Party
Participation Agreement
Party
Payment Due Date
Performance Assurance Provider
Performance Assurance
Period Traded Allowance
Physically Netted Allowances
Positive Mark to Market Amount
Potential Exercise Day
Premium
Premium Payment Date
PTA Quantity
Put Option
Receiving Party
Receiving Party’s Delivery Banking Day Location
Receiving Party’s Holding Account
Receiving Party’s Replacement Cost
Reconciliation Deadline
Reference Market Maker
Reference Price
Registries Regulation
Registry
Registry Operation
Registry Pair
Relevant Authority
Relevant Change in Tax
Relevant Entity
Relevant Registry
Relevant Tax
Replacement Allowances
Replacement Transactions
Requesting Party
Required Authorisations
Schedule
System
Seller
Shortfall
Specified Period
Specified Transaction
Statement Amount
Statement
Strike Price
Suspension Event
Tangible Net Worth
Termination Currency
Termination Payment Date
Termination Payment
Total Debt
Trade Date
Transaction
Transfer Request
Transfer
Unauthorised Transfer
Undelivered Allowances
UNFCCC
Union Registry
Unpaid Amounts
Validity Period
Validity Period Reconciliation Deadline
Value Added Tax or VAT

Schedule 2 Agreement Information (Elections)
Schedule 3A Form of Confirmation for Spot/Forward Transactions
Schedule 3B Form of Confirmation for Option Transactions

See also