Isra-Mart srl:Carbon market security talks ongoing

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Discussions on tightening the security around the EU's carbon spot market are progressing constructively but are by no means concluded, the European Commission said yesterday.

The body has been working to ensure there will be no repetition of the cyber attacks that saw all member states' carbon registries closed and more than three million carbon permits allegedly stolen earlier this year.

Yesterday, the Commission met to discuss a number of measures to boost security, including the application of a delay to transferring permits between registry accounts and amendments to rules governing the public disclosure of permits' serial numbers.

It also proposed that companies bound by the scheme, such as utilities and power companies, be placed in a specific account category.

News agency Reuters also reported that the Commission would continue to work with member states on the proposals for a possible amendment to registries' regulation.

"The meeting was very constructive," Isaac Valero-Ladron, the Commission's spokesman for climate action, told the news agency. "While there was broad support on the concepts of differentiated account categories and delivery delay, opinions were more diverging on the issues of non-display of serial numbers and disclosure of information on (allegedly) stolen allowances."

All of the 30 European registries shut down in January have had to prove their security systems are up to scratch before reopening. So far, only 10 have resumed trading.