Pollutant Pricing Mechanisms (formerly Emissions Trading Schemes) - IASB

Date recorded:

At its meeting on January 20-22, 2015, the IASB discussed a project plan for Emissions Trading Schemes. The plan reflected the initial views expressed by the IASB, the Global Preparers Forum and the Accounting Standards Advisory Forum at meetings held in Q4/2014. The IASB tentatively agreed to; (i) set a broad scope for the project in order to consider the accounting for a variety of schemes that use emission allowances and other financial tools to manage the emission of pollutants and change the title of the project to reflect the broader scope; (ii) take a ‘fresh start’ approach to the project, i.e., that the IASB would not start from the tentative decisions made in the previous project but would instead establish the financial impact of such schemes before looking afresh at how to account for the combination of components that arise in them; (iii) work collaboratively with other standard-setters for research and outreach; and (iv) develop a Discussion Paper as the first due process output.

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