Brussels, 18/02/2010 (Agence Europe) - The road is now open for greater security in CO2 emissions trading carried out online on the European carbon market using national registries.
Meeting on Wednesday 17 February within the climate change regulatory committee, member state experts approved European Commission proposals aimed at reviewing the system of national registries which comes within the EU Community Independent Transaction Log in the context of the Community emissions trading system (ETS).
Pirate attacks on 28 January against the national registries of six member states had prompted the Commission to suggest measures for standardising and locking the procedures for access to these registries (EUROPE 10072). Such measures will allow member states to combat any act of cybercrime on the carbon market by conferring power upon relevant national authorities to refuse to open a new account, suspend or close accounts subject to tendering procedures. Connie Hedegaard, European Commissioner for Climate Action, welcomes the positive decision by the regulatory committee. “It proves that the EU takes action for the security of the registry users”, she comments in a press release.
These new measures are part of a broader review mainly aimed at including civil aviation in the system as of 2012 and at carrying out a transfer of permits from national registries to the new Community registry. Once the Parliament and Council have given their position, the revised text of the regulation will be adopted by the European Commission as soon as possible. Most provisions will apply as of 1 January 2012 and will require in-depth work to be carried out in the field of information technologies prior to their implementation, but anti-fraud provisions will apply from the date of publication of the revised regulation in the Official Journal, due in summer 2010, the European Commission points out. (A.N./transl.jl)