With the European Union's Emissions Trading Scheme (ETS) under siege, emissions traders are becoming increasing restive. They are urging faster and more transparent action from Brussels more than a week after spot trade in the market was suspended in the EU ETS following the alleged theft of credits from accounts in the Czech Republic's national registry. Around 2 million of EUAs worth some ?30 million ($41 million) were stolen and subsequently traded to other parties in different countries before the cybercrime was discovered. In response, on Jan. 19 the European Commission suspended registry transactions for one week. But nine days later there is still no sign of operations resuming at any of them. "It is now of utmost importance to clarify the requirements that have to be met and the process to monitor implementation by national registries, and provide a deadline by which registries will be back online," the International Emissions Trading Association (IETA) said in a statement last Friday. At a minimum, IETA said all transactions on the registries hosting the largest marketplaces must resume again in the first week of February. All other registries should be opened at the latest by mid-April, it urged.
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