Question Details

When will the European Emissions Trading System be reopened?

When will the European Emissions Trading System be reopened?

Asked by: Super Userkruijs in Science » Environment
Settled on 03/01/2011 12:10 Settled by Super Userkruijs
Winning option:ter February By the end of February, the EETS has only been reopened partly. Therefor this market settles "After February".

Predictions

Before January, 26th
On January 26th to January 31st
During February
After February

Background

The European Commission suspended trading in greenhouse gas emissions permits on Wednesday for at least a week after the theft of permits worth millions of euros via online attacks. The Emissions Trading System was a target of “recurring security breaches” over the last two months, the commission, the executive agency of the European Union, announced on its Web site Wednesday.

The commission said it needed to shut the system down until at least Jan. 26 because “incidents over the last weeks have underlined the urgent need” for enhanced security measures. The attacks raised new questions about the viability of Europe’s main tool to combat a rise in greenhouse gases in the atmosphere.

The stolen permits are part of Europe’s effort to cap the amount of carbon dioxide, the main greenhouse gas, that companies may emit each year. Europe’s system is the world’s largest market for greenhouse gas emissions credits.

http://www.nytimes.com/2011/01/20/business/global/20iht-carbon20.html
http://ec.europa.eu/clima/policies/ets/index_en.htm

Find similar: emissions trading, cap and trade, european union, climate change

Comments

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   bgrigore

first EU countries resumed transactions on Feb 4th after national reports requested by the EU http://ec.europa.eu/clima/news/news_2011_02_en.htm
"With the reports submitted, France, Germany, the Netherlands, Slovakia and the United Kingdom have given reasonable assurances that the minimum security requirements are in place. Therefore these national registries will resume normal operations on 4 February 2011 at 8am CET."

   Super Userkruijs

Organized Crime Blamed for Roiling $110 Billion Carbon Market

http://www.bloomberg.com/news/2011-01-31/organized-crime-may-have-stolen-carbon-permits-amid-weak-security-eu-says.html

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