--- title: ICE To Launch UK Allowance Futures In May description: The futures launch will coincide with the first auction of the UK's new Emissions Trading Scheme. image: https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/iStock-904523520-May-12-2022-09-18-23-42-AM.jpg --- ![websites-group](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/new-MMG-01.svg) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-new-marketsmedia-logo.svg)](https://www.marketsmedia.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-traders-redlogo.svg)](https://www.tradersmagazine.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-bestexe-logo.svg)](https://www.bestexecution.net/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-fidesk-logo.svg)](https://www.fixglobal.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-fixglobal-new-logo.svg)](https://www.fixglobal.com/) - [*Facebook*](https://www.facebook.com/MarketsMedia/) - [*Twitter*](https://twitter.com/marketsmedia) - [*Linkedin*](https://www.linkedin.com/company/markets-media-llc) - [Newsletter](https://articles.marketsmedia.com/ice-to-launch-uk-allowance-futures-in-may#popup-newsletter) #### Want the latest news on securities markets -- FREE? 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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. https://twitter.com/ICE\_Markets/status/1365297299149185024 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. Source: ICE [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/ice-to-launch-uk-allowance-futures-in-may) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/ice-to-launch-uk-allowance-futures-in-may) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/ice-to-launch-uk-allowance-futures-in-may) ![email](https://articles.marketsmedia.com/hubfs/Markets%20Media/email.svg) ### NEWSLETTER SIGN UP And receive exclusive articles on securities markets ### Related articles 1. 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