EU Unveils Rules To Reinforce Emissions Trading System

Law360, New York (June 17, 2011, 3:12 PM EDT) -- The European Commission on Friday introduced rules aimed at beefing up the security of Europe's emissions trading system, which has been targeted by hackers and digital fraudsters in the past.

The commission temporarily suspended all national registries after a digital attack in January, when cyber thieves stole 2 million carbon credits from three nations' accounts. The credits, which represent permission to emit roughly one metric ton of carbon dioxide, are currently worth about €11 ($15) each, according to the European Energy Exchange.

The commission said that...
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