Brussels publishes details of carbon trading security requirements

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Brussels publishes details of carbon trading security requirements

24 October 2011

The European Commission has released details of its plan to create a centralised registry for emissions trading permits by January 2013, and security will be a paramount consideration

The European Commission has released details of its plan to create a centralised registry for emissions trading permits by January 2013, and security will be a paramount consideration. Earlier this year, security controls were reviewed in existing national registries after a major theft of data from the Czech Republic's register. With the European Union (EU) revamping its emissions trading regime from 2013, securing trading credits and permits from hackers is a key consideration for the new centralised EU registry undertaking much work currently handled by national registers. Under the proposed EU regulation authorising the centralised registry, detailed procedures are tabled. For instance, the European Commission would be responsible for gatekeeping systems for exchanging data between registries and transaction logs. This, said the proposal, would include "identification codes, automated checks and response codes, as well as the testing procedures and security requirements necessary..." It added that "adequate and harmonised requirements on opening of accounts, authentication and access rights should be applied to protect the security of information held in the integrated registries system and to avoid fraud". The Commission suggests that reviews of these requirements be considered in the future, to ensure their effectiveness. The proposal adds that data-trails must always be maintained: "Records concerning all processes, operators and persons in the registries system should be kept." By Keith Nuthall
Source: Utility Week

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