EU ETS: Summary of discussions of today's EU Climate Change Committee meeting
- Start date : 23/02/2011 00:00:00
The European Commission today outlined a series of actions to strengthen the integrity of the European carbon market following cyber-thefts from several EU Emissions Trading System registries last month.
During today's EU Climate Change Committee, Member States welcomed in broad terms the proposals by the Commission for enhanced registry security measures as a basis for the further discussions in the context of amending the registries regulation. At the same time several emphasized the need for striking the right balance between enhanced security requirements and the administrative costs for authorities and market participants.
Discussions regarding stolen allowances confirmed the complexity and divergence of national legislation. Member States shared the importance of further exploring solutions in the amended registries regulation to restore the market confidence.
In addition to the regular contacts taking place with Member States, discussions will also continue in the Climate Change Committee next month.