Template:Emissions No Encumbrances comp

The absence of encumbrances — which, in the early days of the emissions trading world, where birth pangs still ricocheted and fraudulent waves lapped across the primordial carbon soup of the ETS, was a matter of some concern — is covered fulsomely, and consistently, in all the emissions master trading documents. See:

• “No Encumbrances” (para (d)(vii) in the ISDA EU Emissions Annex
• “No Encumbrances” (cl 5.3) in the IETA Master Agreement and, of all things *“No Encumbrances” (cl 6.3) in the EFET Master Agreement Allowances Annex.