Urgent security report to be done by EU ETS member states

Member states to prove security after cyber attack

Member states in the European Union’s emissions trading scheme are being asked to urgently do a report to confirm they are meeting security requirements after nearly 30 million euros (£26 million) of carbon permits were stolen.

Last week, the EU suspended spot trade in its carbon market, the bloc's chief weapon for fighting climate change, after permits called EU allowances (EUAs) were stolen from accounts in the Czech Republic and Austria.

The European Commission said yesterday that before registries could re-open, each member state had to urgently provide the commission with an independent report confirming that the minimum security requirements had been put in place. It was not known when the registries would start to re-open but the first reports were expected to be submitted in the coming days.

The commission’s climate action spokeswoman, Maria Kokkonen said last week that the latest attack was “theft, not sabotage”. “It could be possible that this is concerted action, because the recent incidence, they happened within the last five days.”

In all up to 2 million EUAs were stolen, worth 28.7 million euros at Thursday’s prices, said Jos Delbeke, the head of the commission's climate action division. The latest attack followed a number of other security breaches in the last couple of months.

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