Allowances

Various types of emission allowances are used within the EU ETS. This page sets out these types and contains information on the use and holding of the various types of emission allowances.

Type of emission allowances

Holding emission allowances

The EU ETS Registry includes various types of account in which users are able to hold emission allowances. Not all types of emission allowances can be held in every type of account. These are the most important rules for holding emission allowances:

  • EUAs/CHUs and AEUAs/CHUAs may be held in all types of account, except a Kyoto account.
  • Valid CERs and ERUs can be held in all types of account.
  • Invalid CERs and ERUs can only be held in a Kyoto account.
  • Invalid CERs and ERUs from a previous Commitment Period (CP1) cannot be held in any account.
     

In which type of account can you hold which type of emission allowance?

Operator holding 
account
Aircraft operator
holding account
Trading account Kyoto account
EUA/CHU yes yes yes no
AEUA/CHUA yes yes yes no
Valid CERs 
and ERUs
Only if obtained in the account before 1 May 2021, in  which case they may be held until 1  July 20233 Only if obtained in the account before 1 May 2021, in which case they may be held until 1 July  20234 Only if obtained in the  account before 1 May 2021, in which case they may be held until 1 July 20235 Yes, until 
1 January 2026
Invalid CERs 
and ERUs6
no no no Yes, until 
1 January 2026

3: CERs from the Clean Development Mechanism (CDM) registry may only be directly transferred to a Kyoto. 
account. Only CERs that can be used in the EU ETS can be transferred to all types of account later.
4: Ditto.
5: Ditto.
6: Since 2013, CERs and ERUs that cannot be used (in the EU ETS) may only be held in Kyoto accounts.

The rules listed above affect the transfer of emission allowances. Only allowances that you may hold in a certain type of account can be transferred to such an account. EUAs, for example, may only be transferred to an aircraft or other operator holding account or trading account, but not to a Kyoto account.

You can find more information on the various types of account in the EU ETS Registry in the EU ETS Registry accounts background document.