Connie Hedegaard: "The Commission is taking a decisive step to reinforce the robustness of the CO2 market"
The European Commission adopted today a proposal for the review of financial market rules, bringing into their scope also emission allowances. As the carbon market has experienced significant growth in size and sophistication, it needs a robust level of oversight to facilitate investments in the transition to a low-carbon economy.
Connie Hedegaard has made the following statement:
"Today the Commission is taking a decisive step to reinforce the robustness of the CO2 market. By treating emission allowances as other financial assets, the proposal extends financial market protection to the carbon market. It will provide further certainty for carbon market participants as the market grows and matures. This way, the carbon market will better play its full role to mobilise the substantial investments needed for the transition to a low-carbon economy."
- MEMO/11/719: Review of the Markets in Financial Instruments Directive (MiFID) and Proposals for a Regulation on Market Abuse and for a Directive on Criminal Sanctions for Market Abuse: Frequently Asked Questions on Emission Allowances
- MEMO/11/716: Review of the Markets in Financial Instruments Directive (MiFID): Frequently Asked Questions
- IP/11/1219: New rules for more efficient, resilient and transparent financial markets in Europe
- IP/11/1217: Getting tough on insider dealing and market manipulation