Emission rights
Background
This IFRIC project considered the accounting for schemes that are based on a 'cap and trade' model whereby participants are allocated (typically by a government body) emissions rights equal to a 'cap' (that is, a target level of emissions) and are permitted to trade those emission rights.
Current status of the project
This project has been completed. IFRIC 3 Emission Rights was issued on 2 December 2004.
Project milestones
| Date | Development | Comments |
|---|---|---|
| 15 May 2003 | IFRIC D1 Emission Rights published | Comment deadline 14 July 2003 |
| 2 December 2004 | IFRIC 3 Emission Rights issued | Effective for annual periods beginning on or after 1 March 2005 |
| June 2005 | IASB decides to withdraw IFRIC 3 with immediate effect |