The European Union will speed up work on protecting the world’s biggest carbon market from fraud and will discuss with emitters and traders next month how to handle allowances stolen in computer-hacking attacks.
The European Commission discussed proposals to “strengthen the integrity” of the EU emissions market at a meeting with member states in Brussels today and one option on the table was extending the bloc’s financial-markets regulations to include spot trading. The efforts to tighten oversight come after hackers roiled the market in the past months, illegally transferring from national registries around 60 million euros ($82.4 million) of permits.
