EU ETS mechanics
EU ETS Phase 4 explained
Phase 4 set the frame. Live reform still rewrites the years ahead.
Updated 2026-08-05 · Model output for professionals · Not investment advice
Phase 4 in one screen
Tighter linear reduction, a stronger MSR role, and evolving sector coverage (including aviation and maritime steps). It is the baseline rulebook many Status Quo paths start from.
Live reform on top
Commission, Parliament, and Council texts can still change LRF, MSR, free allocation, and CBAM timing. Scenario Desk keeps Status Quo vs Live Reform explicit.
FAQ
- Is Phase 4 over?
- Phase 4 is the current framework period, but parameters inside it keep changing through legislation. Desks trade the live path, not a frozen textbook.