IHS Chemical Week

Cyber Theft Forces EU to Suspend Spot Emission Trading

4:53 PM MST | January 28, 2011 | Alex Scott

In an unprecedented move, the European Commission has suspended all spot trading for the European Union’s (EU) Emissions Trading Scheme (ETS) following a series of major cyber-theft incidents totalling up to €28 million ($38 million). The spate of cyber thefts has taken place in up to five countries. Some 500,000 certificates worth about €7 million have been stolen from accounts in Czech Republic. An additional total of 1.5 million certificates may have been stolen from the trading systems of Austria, Estonia, Greece and Poland. An investigation is underway...

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