Registry System
The Union Registry is a forum where companies and individuals can establish accounts to hold allowances, issued according to directive 2003/87/EU. Aircraft operators that fall under the scope of the directive are required to establish an aircraft operator holding account from which they can surrender allowances to fulfill their obligations regarding emissions. The Union Registry works in a similar way as an online banking system does as companies and individuals can transfer allowances between them according to purchase agreements. Companies and individuals that have not received allocation according to the above mentioned directive, can acquire allowances through auctions, exchanges or from owners of allowances through over the counter trade.
Further information regarding the establishment of account can be found in the tabs above and the information form is here.
The registries system composed of the EU ETS registries and the Community Independent Transaction Log (CITL) is at the core of the European Emissions Trading System (EU ETS). The registries system ensures the accurate accounting of all allowances issued under the EU ETS and keeps track of the ownership of allowances in the same way as a banking system keeps track of the ownership of money.
Non-confidential information of accounts and account holders are available on the website of the system.
The revised ETS Directive adopted in 2009 provides for the centralisation of the ETS operations into a single European Union registry. This new registry will be operated by the Commission and will replace all EU ETS registries currently hosted in the Member States.
The EU registry will be used by more than 25,000 end-users (e.g. operators, traders). All transactions taking place in the registry will be subject to the approval of the European Union Transaction Log (EUTL), the successor of the CITL.
Iceland a member
Iceland is a member of the Union Registry and aircraft operators can apply for an account through the Environment Agency of Icland as of 20 June 2012. The application process involves a procedure at the Union registry’s website as well as delivery of documents to the Environment Agency. As of now, the Union registry is not operational but an announcement will be published on the Environment Agency’s website when applicants can begin their application process.
For further information contact: ets-registry@ust.is
This guide is to help you complete your application for a Registry account in the EC Union Registry which will be managed by the Environment Agency as the Iceland (IS) Registry Administrator.
You (the account holder) need to review this guide and nominate at least two Authorised Representatives for your account. The Authorised Representatives will be the main users of the Registry account on behalf of your organisation. You can nominate more Authorised Representatives once your account has been opened and access has been given.
- Fill out the electrical information form in the tab above.
- Create users in the Union Registry. Please note that the users need to be the same as authorized representatives in the electrical information form above.
Instructions on creating a user in the Union Registry
Union Registry's website (Click on Iceland)
Terms of use - Mail the required documents for all parties, that is users and company.
If you intend to use the account for trading purposes then you will also need to nominate at least one Additional Authorised Representative, whose consent is required in order to initiate certain transactions.
Should you have any problems at this stage then please contact the Registry Help Desk ets-registry@ust.is.
You will also be required to send us the required identification documentation for the organization and each nominated Authorised Representative if this has not been sent already.
Once you have completed your online Registration and made an application for an Account in the new Registry – this will be held in our work queue – awaiting final approval from the Registry Administrator in Iceland. The final approval will only be given once all the required identification documentation has been received, checked and validated for your Account Representatives and Additional Authorised Representatives (if applicable), and the application fees have been paid. Any identification documentation that is incomplete or incorrect will delay the approval process.
All account holders (if a legal entity, its company director or company secretary) will need to provide a completed Power of Attorney. Please use the template provided.
All nominated Authorised Representatives and Additional Authorised Representatives (if applicable) will need to provide us with copies of identification documentation for proof of name and proof of permanent residence.
All nominated Authorised Representatives and Additional Authorised Representatives (if applicable) will also need to provide criminal record.
Legal entity document requirements
- Application form
- Copy of document proving the registration of the Legal Entity, e.g. Certificate of Inocorporation
- List of beneficial owners of the Legal Entity (Those who own more than 25% of legal entity’s shares or voting rights)
- List of the names of Directors of the Legal Entity
- Power of attorney nominating your authorized representatives signed by a beneficial owner or listed director of the Legal Entity
Authorized Representatives Documents
- Criminal record
- Proof of identity
- Proof to support the identity of the natural person requesting the account opening, this may be a copy of one of the following:
- a) an identity card issued by a state that is a member of the European Economic Area or the Organisation for Economic Co-operation and Development;
- b) a passport.
- Proof of permanent address
- a) the identity document submitted as proof of identity, if it contains the address of the permanent residence;
- b) any other government-issued identity document that contains the address of permanent residence;
- c) if the country of permanent residence does not issue identity documents that contain the address of permanent residence, a statement from the local authorities confirming the nominee's permanent residence;
- d) any other document that is customarily accepted in the Member State of the administrator of the account as evidence of the permanent residence of the nominee.
- A bank account statement, no more than 3 months old.
Common requirements for documentation
The following is needed to prove the authenticity of submitted documents and to make their content available for the Environment Agency of Iceland:
Regarding documents issued outside Iceland, the copy must be legalised. The date of the certification or legalisation must not be more than three months prior to the date of application. Contact details of the notary public/legalisation office shall show on the copy or be attached. Information on where to get the document legalized.
Copies of documents submitted to the Environment Agency as evidence shall be in English or Icelandic. If the original is in another language it shall be accompanied by an authorised translation to English or Icelandic.
All data is handled in accordance with the Personal Data Protection Act (no. 77/2000) and Commission Regulation for a standardized and secured system of registries (no. 920/2010 EU).
Address and support
All information shall be sent in a hard copy to the agency at the address provided below. An additional electronic copy can also be sent to: ets-registry@ust.is.
Environment Agency
Att: ETS Registry
Sudurlandsbraut 24
108 Reykjavík
Iceland
E-mail: ets-registry@ust.is
Further information concerning the registry is available via phone or e-mail
Telephone: +354 591 2000
E-mail: ets-registry@ust.is
Fees
The following fees are required for establishing an account in the Union Registry.
| Establishing an account |
37 500 ISK |
| Annual fee* |
37 500 ISK |
*Annual fees accumulate from the day of the establishment of the account. It is only permitted to charge an annual fee multiplied as X/365, where X nominates the amount of days remaining in the relevant calendar year of the account establishment.
The amounts will be invoiced to applicants for accounts in the Union Registry by the Environment Agency. Until payments have been received, full activation of the account will not be permitted, i.e. the account will be blocked.
For Icelandic accounts within the EU ETS registry the running of 26 hour transaction delay will be suspended on the following national holidays in 2012 and 2013:
2012:
- 24th of December 2012 (Christmas)
- 25th of December 2012 (Christmas)
- 26th of December 2012 (Christmas)
- 31th of December 2012 (New Year’s Eve)
2013:
- 1st of January 2013 (New Year’s Day)
- 28th of March 2013 (Maundy Thursday)
- 29th of March 2013 (Good Friday)
- 1st of April 2013 (Easter Monday)
- 25th of April 2013 (First Day of summer)
- 1st of May 2013 (Labour Day)
- 9th of May 2013 (Ascension Day)
- 20th of May 2013 (White Monday)
- 17th of June 2013 (Iceland’s Independence Day)
- 5th of August 2013 (Public Holiday)
- 24th of December 2013 (Christmas)
- 25th of December 2013 (Christmas )
- 26th of December 2013 (Christmas)
- 31th of December 2013 (New Year’s Eve)
This guidance note has been prepared to assist Aircraft Operators to comply with EU ETS.
Please note that in order to comply with the European Union Emissions Trading System (EU ETS) some task shall be processed in the Union Registry within the next days.
The Environment Agency of Iceland would like to remind aircraft operators administered by Iceland to enter their annual emissions into the Union Registry by 31st of Mars 2013, cf. article 29(2) of Regulation (EU) No 920/2010 (cf. Icelandic Regulation No 71/2013). If an aircraft operator fails to enter their annual emission into the Union Registry before the 31st of March the aircraft operator holding account will be set to blocked status, cf. article 30(1) of Regulation (EU) No 920/2010. No processes can be initiated form a block account, except for surrendering of units, entering of annual emission and updating account details, cf. article 9(2) Regulation (EU) No 920/2010.
By the 30th of April 2013 aircraft operators shall surrender allowances in accordance with their 2012 greenhouse gas emissions, cf. article 17(1) of the Icelandic Climate Change Act No 70/2012 (cf. article 12(2a) of Directive 2003/87/EC), which implements Directive 2003/87/EC in Iceland. Allowances are surrendered in the Union Registry. Please note that in order to surrender allowances an annual emissions figure must have been entered in the Union Registry. If allowances are not surrendered by the 30th of April 2013 or sufficient amount of allowances are not surrendered to cover the emissions of the preceding year, aircraft operators will be held liable for the payment of EUR 100 for each tonne of carbon dioxide equivalent emitted for which allowances have not been surrendered. That payment does not release the aircraft operator from the obligation to surrender the missing allowances and the net compliance obligation is carried forward into 2013 compliance, cf. art. 43(1-2) of the Icelandic Climate Change Act No 70/2012 (cf. article 16(3) of Directive 2003/87/EC).
The EU ETS Registry User Guide describes tasks users of the Union Registry are responsible for and provides information on how tasks are executed. Please note that in order to enter annual emission into the Union Registry, a verifier must to be appointed to the account. Below is a list of tasks that needs to be processed in order to comply with the EU ETS along with reference to the User Guide:
- The authorised representative of the aircraft operator holding account needs to appoint a verifier. Page 39 in the User Guide explains how a verifier is appointed to an account.
- The authorised representatives of the aircraft operator holding account needs to enter annual emission for the year 2012 into the Union Registry by the 31st of Mars 2013. Page 64 in the User Guide describes how the annual emission is entered in the Union Registry.
- The appointed verifier of the aircraft operator holding account shall approve the emission figure entered.
- By the 30th of April 2013 aircraft operators shall surrender allowances in accordance with their 2012. Page 65 in the User Guide describes how allowances are surrendered in order to be compliant.
Additional information on this task:
Under the compliance tab, please ensure that first commitment period is selected. You will be asked to enter emissions for the total aggregated CO2 emissions for domestic flights and non-domestic flight. Please note, that this option has nothing to do with “Stopping the Clock”. Domestic flights are flights that depart and arrive in the same county and non-domestic flights are flights that depart in one county and arrive in a different country. What is important is that the total sum of the enter emissions under domestic and non-domestic is the amount the aircraft operator is supposed to surrender. If you intent, to make use of “Stopping the Clock”, please only enter emissions for the non-exempted flights.
For further information or clarification, please contact The Environment Agency of Iceland at ets-registry@ust.is.
