Source: UK Telegraph
The European carbon market has been thrown into turmoil after the scandal-hit scheme was suspended for a week over suspicions of fraud.
More than €2bn (£1.7bn) of trade is likely to be disrupted after the European Commission said it would prevent transactions until January 26.
The suspension follows allegations that 475,000 carbon credits worth €7m were stolen in a hacking attack on the Czech carbon register. It appears that the intangible allowances were bounced between eastern European countries before disappearing without a trace.
France’s Bluenext exchange was the first to close its platform, while Austria, Poland, Estonia and Greece also shut their registries for trade. (more…)