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NautaDutilh assisted ABN AMRO with setting up a new service to clients to facilitate trading in EU Emission Allowances.

The European Emissions Trading System (EU-ETS) requires companies subject to mandatory participation in emissions trading schemes across Europe to purchase emission allowances or offset credits for each tonne of CO₂ emitted. As a result, there is a growing demand for EU Emission Allowances as companies seek ways of meeting their emissions targets. Per 1 January 2024, the EU-ETS will be extended to cover CO₂ emissions from all large ships (of 5 000 gross tonnage and above) entering EU ports, regardless of the flag they fly. With this new service, ABN AMRO will be able to provide its shipping clients and other clients subject to the EU-ETS with access to the compliance market and support its clients’ needs to meet their current and future carbon CO₂ compliance obligations.

Facilitating the trading in EU Emission Allowances is governed by financial regulatory rules. We have advised ABN AMRO on these rules and assisted with the preparing the contractual documentation. “We are delighted to have contributed to the launch of this new carbon solution offered by ABN AMRO to its clients, which offering comes right in time for the extension of EU-ETS to the maritime sector”, says financial regulatory partner Sven Uiterwijk, who has worked on this matter together with senior associate Willemijn Pieters.

The new product page of ABN AMRO Bank can be visited here: Emission allowances - ABN AMRO

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