Czechs say to track, invalidate stolen CO2 permits

Fri Jan 21, 2011 3:46pm GMT

* 1.3 million permits missing from six different accounts

* OTE working to identify the accounts holding them now

* Cyber attack after bomb threat, evacuation at registry

PRAGUE, Jan 21 (Reuters) - The Czech carbon permits registry said it aimed to locate 1.3 million stolen carbon permits and either reverse the fraudulent transactions, which led to a halt in trading across Europe this week, or invalidate the permits.

The European Union imposed a week-long freeze on Wednesday on spot trade in its carbon market, the bloc's chief weapon for fighting climate change, after the theft of emissions permits called EU allowances (EUAs) from accounts in the Czech Republic and Austria.

Czech registry operator OTE said on Friday it was investigating and aimed to identify the accounts to which 1.3 million missing permits went after the incident.

"This search will be completed in several days," OTE said in a statement.

"The OTE will, in cooperation with the European registry operator CITL, propose a solution through reverse transfers or invalidation of these permits."   Continued...

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