Emissions Trading Schemes

Date recorded:

The Board was presented with a staff research paper on emission trading schemes prepared by a former IASB Industry Fellow. The research paper is intended to be a helpful resource for those interested in the joint project and to serve as background information to future Board deliberations on the topic. The Board was not asked to make any decisions at the meeting, but to provide feedback on the scope and general direction of the paper.

The Board commended the author for the good work he did while at the IASB and continues to do on the research paper. In general, the Board felt that the paper lacks some background and guidance on the accounting issues arising from emission trading schemes and that the Board aims to answer as part of the project. It was suggested that an additional chapter be added to the paper to highlight the key accounting questions, the current industry practices applied and the discussion the Board had to date on the topic without committing the Board to any specific accounting treatment. The Board also asked that the staff paper not be published during another comment period, so as to avoid constituents to be distracted from the Board's current projects.

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