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The Low Carbon Economy Ltd

20 Jan 2011 10:01:13

EU carbon accounts locked after security breach

EU carbon accounts locked after security breach
Breaches in security led the European Union (EU) to lock all accounts on the carbon markets yesterday (January 19th).

The move follows the loss of almost €7 million (£5.9 million) of trading permits from the carbon registry of the Czech Republic, which authorities believe were stolen.

Blackstone Global Ventures told the news agency Reuters that 475,000 carbon permits had left its account in the country.

"We do know that the first delivery point for the EUAs (permits) was Estonia. After that we have no other information," Daniel Butler, from the firm, said.

Earlier this month, authorities were put on alert following a hacking attack on the Austrian carbon registry and Reuters said the latest breaches could dissuade other nations from implementing similar emissions trading schemes.

Jos Delbeke, a European climate official, told the news provider he was "speechless about the negligence some member states have been showing".

The suspension is set to last until at least January 26th.

Launched in 2005, the EU Emissions Trading scheme covers 11,000 power stations and industrial facilities in 30 countries.  ADNFCR-1235-ID-800353665-ADNFCR

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