ICE publishes auction calendar for UK’s new Emissions Trading Scheme
February 26 2021 - 8:00AM
Business Wire
First UK ETS auction will take place on May
19
ICE UK Allowance (UKA) Futures and Daily
Futures launching
Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator
of global exchanges and clearing houses and provider of mortgage
technology, data and listings services, today announced the
publication of the auction calendar for the UK’s new Emissions
Trading Scheme (“ETS”) with the first auction due to commence on
May 19, 2021, subject to regulatory approval.
ICE was appointed to host emissions auctions on behalf of the UK
Government’s Department for Business, Energy and Industrial
Strategy (BEIS) following the announcement from the UK Government
and Devolved Administrations in December 2020 of the planned launch
of a UK ETS to replace the UK’s participation in the EU ETS.
ICE plans to launch ICE UK Allowance (UKA) Futures contracts on
May 19, 2021, coinciding with the launch of the first auction, with
UKA Daily Futures following on May 21, 2021, subject to regulatory
approval. ICE UKA Futures will trade on ICE Futures Europe and
clear at ICE Clear Europe alongside ICE’s global environmental
complex, including European Union Allowances (EUA), California
Carbon Allowances (CCAs) and California Carbon Offsets (CCOs).
“The publication of our ambitious UK Emissions Trading Scheme’s
auction calendar is another crucial step towards our target of
eliminating our contribution to climate change by 2050,” said UK
Energy Minister Anne-Marie Trevelyan. “Our scheme is even more
ambitious than the EU system it replaces and today’s publication
will give businesses and operators clarity over this year’s supply
of emissions allowances, enabling them to plan ahead, build back
greener and better prepare for the transition to a low-carbon
economy”.
“We are excited about the addition of a new carbon market and
believe the UK ETS will be pivotal in supporting the climate
ambitions of the four governments of the UK”, said Gordon Bennett,
Managing Director of Utility Markets at ICE. “UK emissions have
fallen 41% since 1990, more than any other major developed country
and this has been driven by the UK’s leadership in promoting
market-based mechanisms to support climate goals. There is an
enormous opportunity for cap and trade programs to take an even
greater role in supporting the goals of the Paris Agreement,
whether it is increasing their sector coverage or encouraging
international linking.”
ICE offers customers access to the largest and most liquid
environmental markets in the world. More than 14 gigatonnes of
carbon trades on ICE annually, which is equivalent to approximately
40% of the world’s total annual emissions footprint based on
current estimates.
About Intercontinental Exchange
Intercontinental Exchange
(NYSE: ICE) is a Fortune 500 company and provider of marketplace
infrastructure, data services and technology solutions to a broad
range of customers including financial institutions, corporations
and government entities. We operate regulated marketplaces, including the New York Stock Exchange, for the listing,
trading and clearing of a broad
array of derivatives contracts and financial securities across
major asset classes. Our comprehensive data services offering supports the
trading, investment, risk management and connectivity needs of
customers around the world and across asset classes. As a leading
technology provider for the U.S. residential mortgage industry,
ICE Mortgage Technology
provides the technology and infrastructure to transform and
digitize U.S. residential mortgages, from application and loan
origination through to final settlement.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual
property rights of Intercontinental Exchange, Inc. and/or its
affiliates is located here. Key
Information Documents for certain products covered by the EU
Packaged Retail and Insurance-based Investment Products Regulation
can be accessed on the relevant exchange website under the heading
“Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 -- Statements in this press release regarding
ICE's business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion
of additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors in ICE's
Annual Report on Form 10-K for the year ended December 31, 2020, as
filed with the SEC on February 4, 2021.
ICE- CORP
Source: Intercontinental Exchange
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210226005343/en/
ICE Media Contact: Rebecca Mitchell Rebecca.Mitchell@theice.com +44 7951 057
351 ICE Investor Contact: Warren Gardiner Warren.Gardiner@theice.com 770-835-0114
Intercontinental Exchange (NYSE:ICE)
Historical Stock Chart
From Aug 2024 to Sep 2024
Intercontinental Exchange (NYSE:ICE)
Historical Stock Chart
From Sep 2023 to Sep 2024