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1. For the purpose of determining a manufacturer’s compliance with its specific CO2 emissions targets in the reporting periods of the years 2025 to 2039, account shall be taken of its emission credits or emission debts determined in accordance with point 5 of Annex I, which correspond to the number of new heavy-duty vehicles of the manufacturer in a reporting period, multiplied by: ◄ (a) the difference between the CO2 emissions reduction trajectory as referred to in paragraph 2 and the average specific CO2 emissions of that manufacturer, if that difference is positive (‘emission credits’); or (b) the difference between the average specific CO2 emissions and the specific CO2 emissions target of that manufacturer, if that difference is positive (‘emission debts’). Emission credits shall be acquired in the reporting periods of the years 2019 to 2039 ◄ . However, the emission credits acquired in the reporting periods of the years 2019 to 2024 shall be taken into account for the purpose of determining the manufacturer’s compliance with the specific CO2 emissions target of the reporting period of the year 2025 only.

Emission debts shall be acquired in the reporting periods of the years 2025 to 2039. However, the total emission debt of a manufacturer shall not exceed 5 % of the manufacturer’s specific CO2 emissions target multiplied by the number of heavy-duty vehicles of the manufacturer in that period (‘emission debt limit’). Emission credits and emission debts acquired in the reporting periods of the years 2025 to 2039 shall, where applicable, be carried over from one reporting period to the next reporting period. However, any remaining emission debts shall be cleared in the reporting periods of the years 2029, 2034 and 2039. Emission credits shall be taken into account for the purpose of determining the manufacturer’s compliance with its specific CO2 emissions target only in any of the reporting periods of the 7 years that follow the reporting period during which they have been acquired.

2. The CO2 emissions reduction trajectories shall be set for each manufacturer in accordance with point 5.1.2 of Annex I, based on the following linear trajectories:

(a) between the reference CO2 emissions and the CO2 emissions target for the reporting period of the year 2025 or 2030 as specified in Article 3a(1), points (a) and (b);

(b) between the CO2 emissions target for the reporting period of the year 2025 and the CO2 emissions target for the reporting period of the year 2030 as specified in Article 3a(1), point (b);

(c) between the CO2 emissions target for the reporting period of the year 2030 and the CO2 emissions target for the reporting period of the year 2035 as specified in Article 3a(1), point (c); and (d) between the CO2 emissions target for the reporting period of the year 2035 and the CO2 emissions target for the reporting period of the year 2040 as specified in Article 3a(1), point (d).