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Project news

IASB discusses a project plan for Emissions Trading Schemes

 22 January 2015

The IASB met on 22 January 2015 to discuss a project plan for Emissions Trading Schemes. The plan reflected the initial views expressed by the IASB, Global Preparers Forum and Accounting Standards Advisory Forum at meetings held in Q4 of 2014.

Agenda Paper 6: Project plan

The IASB tentatively agreed to:

  1. 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.
  2. Take a ‘fresh start’ approach to the project, ie 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.
  3. Work collaboratively with other standard-setters for research and outreach.
  4. Develop a Discussion Paper as the first due process output.

All IASB members agreed with these decisions.

Next steps

The staff will continue the research into a variety of schemes before asking the IASB to deliberate the possible accounting approaches.

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