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Hacking Attack Prompts Doubts About Security of EU Carbon Market

Trading in European Union carbon permits fell and the BlueNext SA exchange proposed “isolation accounts” after an alleged hacking raised doubts about security in the world’s biggest emissions market.

The European Commission, the Brussels-based regulator, suspended most operations yesterday at all 30 of the region’s greenhouse-gas emissions registries after a Czech firm reported about 6.8 million euros of carbon allowances stolen. Replacing national registries, now used to track emission allowances in each member state, with a central clearinghouse will resolve the “security problem” in the Emissions Trading System, Maria Kokkonen, climate spokeswoman for the EU, said today.