The Greenhouse Gas Emissions Trading Scheme (Amendment) (No. 2) Order 2024 is a statutory instrument enacted in exercise of the powers conferred by the Climate Change Act 2008. The statutory provisions cover amendments to the Greenhouse Gas Emissions Trading Scheme Regulation and Order 2020, addressing terminological clarifications, revisions to cap calculations, modifications concerning obligations for the surrender of allowances, and the establishment of deficit notices as an enforcement mechanism. The instrument adjusts emissions caps for trading periods and scheme years, revises definitions pertinent to aviation activities, and incorporates provisions regarding upstream greenhouse gas removal within petroleum-related operations. It further delineates updated methodologies for monitoring and reporting emissions, including refinements to verification procedures applicable to installations engaged in regulated activities. Additional amendments expand regulatory oversight through the introduction of new civil penalties associated with the failure to comply with deficit notices, along with adjustments to penalty assessments in cases of under-reporting and non-compliance. This amendment reinforces compliance mechanisms, enhances market stability within the emissions trading framework, and bolsters regulatory efficacy in monitoring greenhouse gas emissions across various sectors.