Five European Countries Resume Carbon Trading

3 February 2011 (Last Updated February 3rd, 2011 18:30)

Carbon trading has resumed in five European countries today, after the European Commission (EU) suspended all internal and international transactions within all the member states’ emissions trading system (EU ETS) registries on 19 January. The UK, France, Germany, the Netherlands, and S

Carbon trading has resumed in five European countries today, after the European Commission (EU) suspended all internal and international transactions within all the member states’ emissions trading system (EU ETS) registries on 19 January.

The UK, France, Germany, the Netherlands, and Slovakia have assured European Commission that their national registries are secure enough to prevent any cyber attacks and frauds.

The Commission directed the member states not to reopen registries until they provide evidence about steps taken to meet a number of minimum security requirements.

The theft of €30m worth of allowances to emit greenhouse gases in Austria, Greece and the Czech Republic, has prompted the EU to focus on security improvement in the registries and suspend the trading.

The commission said in a statement that various other countries are expected to submit independent reports detailing the security measures being taken up, reports The Wall Street Journal.