On 21 December 2010 the Commission published a communication on carbon market oversight. The communication provided a preliminary assessment of the current level of protection of the carbon market from market abuse and other forms of market misconduct.
Following up on that initial assessment, Directorate-General for Climate Action is conducting a detailed study of the structure of the carbon market, the existing levels of market oversight, as well as implications of introducing new measures which would deal with the risks of market misconduct or abuse and would enhance the carbon market's integrity and transparency.
The ECCP stakeholder meeting on 4 May will be an opportunity for stakeholders to provide feedback on the appropriateness and expected impacts of pursuing either of the two contemplated approaches i.e. (i) coverage of emission allowances by financial market legislation through their classification as financial instruments (ii) development of a tailor-made regime for secondary trade in emission allowances.
Invitations to this meeting will be extended to members of the European Climate Change Programme (ECCP), which brings together representatives from Member States, industry associations, environmental groups and other associations representing specific segments of the carbon market, as well as academics.
Written comments on the discussion paper may also be submitted via-email: CLIMA-MARKET-OVERSIGHT@ec.europa.eu