Written question asked by Lord Jenkin of Roding (Conservative), in the House of Lords. It was answered by Lord Marland (Conservative) on Monday, 31 January 2011.

Energy: Carbon Emissions

Question: To ask Her Majesty’s Government, following the reported theft of around two million European Union carbon allowances, allegedly defrauding the European Union's Emission Trading Scheme (ETS) of millions of euros, and the consequent suspension by the Commission of trading in carbon spot markets on 19 January, what measures they are taking to prevent further fraudulent activity affecting the ETS.

Answer: The security of EU registries is very important to the continued successful operation of the EU Carbon Market. The UK Registry Administrator, the Environment Agency, has assessed the risk to UK account holders and concluded that because of the security systems used in the UK Registry, successful attacks are unlikely. The UK Government are working with the European Commission and other member states to ensure a similar level of security in all national registries and to ensure that the planned single Union registry meets stringent security requirements when it opens in 2012. At present, all registries across Europe have been closed. The UK continues to work with the European Commission to set appropriate minimum requirements for all EU registries to reopen.

Secondary information

Type: Written question
Reference: 6213; 724 c222WA
Session: 2010-12
Subjects: Cybercrime Fraud Financial markets EU emissions trading scheme Carbon emissions
Link: View this Written question on www.publications.parliament.uk