ARTICLE
14 February 2011

A New Crime: Hacking Carbon Credits

SL
Siskinds LLP

Contributor

Since 1937, Siskinds has been that firm of specialists serving individuals, families and businesses in southwestern Ontario and Canada from our offices in London, Sarnia and Quebec City. We’ve grown as the world around us has evolved. Today, we are a team of over 230 lawyers and support staff covering personal, business, personal injury and class action law and over 25 specialized practice areas.
In January, much of the European Union carbon trading system was shut down in response to the theft of carbon credits from a Czech carbon registry.
Canada Environment

In January, much of the European Union carbon trading system was shut down in response to the theft of carbon credits from a Czech carbon registry. Blackstone Global Ventures announced: Stolen EUA. Yesterday at 12 CET 475 000 allowances were unlawfully removed from our account with the Czech registry (OTE). We are doing our outmost to resolve the problem and want to make all market participants aware of the incident.

Such crimes can seriously undercut the trustworthiness of carbon credits. National registries in Austria, the Czech Republic, Greece, Estonia and Poland halted all trades while they reviewed their own security. More at New Scientist.

New Scientist also has an excellent article for the general public on the reliability of climate models.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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