Emissions Trading: Statement by Commissioner for Climate Action Connie Hedegaard on regulatory oversight of the EU carbon market
"The European carbon market is a relatively young market which has grown rapidly during its first six years of operation, both in size and sophistication. With a climate crisis and an economic crisis, the world more than ever before needs cost-effective means of reducing greenhouse gas emissions. It is therefore important that the market can continue to expand and safely be relied upon to give an undistorted carbon price signal to investors and decision-makers in boardrooms across the EU.
Over the last years, the market has reached a size which makes it a potential target of fraudulent practices. Therefore, as the market matures and grows further, it is critical that it continues to be subject to appropriate and effective regulatory oversight".