ISDA Definitions - Emissions Annex Provision

EU Emissions Allowance Transaction Annex to the 2005 ISDA Commodity Definitions
A Jolly Contrarian owner’s manual™

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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 Anatomy • EU Wikitext • EU Nutshell (premium) • UK Anatomy • UK Wikitext (to be merged into EU Anatomy)
IETA: IETA Master Agreement • IETA Wikitext • IETA Nutshell (premium)

EFET: EFET Allowances Appendix • EFET Allowances Wikitext • EFET Nutshell (premium)

Section (b) in a Nutshell™

Use at your own risk, campers!

(b) ISDA Definitions The 2006 ISDA Definitions are incorporated into the Emissions Annex. If there is inconsistency the Emissions Annex will govern. view template

Full text of Section (b)

(b) ISDA Definitions The definitions and provisions contained in the 2006 ISDA Definitions, as published by the International Swaps and Derivatives Association, Inc. (the “2006 ISDA Definitions”), are incorporated into this Part. In the event of any inconsistency between those definitions and provisions and this Part, this Part will govern. view template

Comparison

See our natty emissions comparison table between the IETA, EFET and ISDA versions of emissions trading docs

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Content and comparisons

Interesting question to what extent the 2005 ISDA Commodity Definitions are germane seeing as, nominally, they were meant to be, but the ISDA Emissions Annex seems in the mean time to have broken free of its shackles and now no longer even mentions the 2005 ISDA Commodity Definitions, falling back instead on the 2006 ISDA definitions — no doubt soon to be upgraded to the 2021 ISDA Interest Rate Derivatives Definitions.