European Commission Acts to Strengthen Carbon Trading Market

The European Commission says it is taking steps to put into place tougher controls for protecting the spot carbon market in Europe. The market has reached a size which makes it a potential target of fraudulent practices, the commission says. The commission intends to propose legislation on the issue during 2011. The commission has concluded that all other trades on the EU carbon market that are not spot trades already are “subject to appropriate oversight” and won’t be the subject of the proposed legislation. As a next step, the commission says it will...

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