(13)Regulation (EU) 2024/1623 introduced in the alternative standardised approach a specific risk weight for exposures to carbon trading under the EU Emissions Trading System (EU ETS), justified by the stability and the limited volatility of the Union’s carbon emissions allowance market in recent years and related prices for carbon credits. Subsequent quantitative analysis provided evidence that, in addition to the lower risk weight, a correlation parameter used for the aggregation of the carbon trading exposures should also be set to a different value, that would result in lower own funds requirements for those specific exposures. Furthermore, exchanges between banks and regulators from other jurisdictions, including ongoing consultation processes, suggest that similar measures might be adopted in those jurisdictions’ final implementation. It should therefore be laid down that, until 31 December 2029, the correlation parameter is to be amended via a multiplier to an appropriate value, in light of the existing evidence.