Feeds

Utilities turn in blacklisted carbon emission credits

More fallout from high profile cyber-heists that shut registries across Europe

High performance access to file storage

More prominent power generation outfits have surrendered stolen carbon emission permits after realising that they had inadvertently purchased illicit goods.

German utility Eon and Frankfurt-based infrastructure provider Infraserv turned in a collective total of 27,100 blacklisted EUAs (EU Emission Allowances). The certificates were among 186,500 EUAs and 46,000 certified emissions reductions (CERs) fraudulently obtained from German paper manufacturer Drewsen Spezialpapiere via a high-profile phishing scam late last year.

"Eon Energy Trading acquired and surrendered the EUAs in question in good faith," an Eon spokesman told Thomson Reuters Point Carbon (story - subscription required).

The phishing scams and other security problems led to the closure of carbon trading exchanges across Europe in January. Cybercrooks stole permits worth an estimated €30m ($41 million) in allowances in a string of attacks. Roughly 2.78 million of the estimated 3.3 million blacklisted EUAs remain in circulation.

Energy giants ScottishPower and RWE were among five firms identified earlier this week as the unwitting recipients of stolen emission permits. The stolen allowance came from scam involving thefts from accounts maintained from carbon registries in Italy, Romania and the Czech Republic.

There is no suggestion any of the seven firms did anything wrong. It seems that corrupt intermediaries bought permits from phishing fraudsters before fencing these permits to unwitting sellers. Although they can't be traded, the blacklisted EUAs remain eligible for compliance use, Thomson Reuters Point Carbon adds.

Carbon-trading registries represent an attempt to apply a market-based solution towards limiting carbon emissions. Polluters are able to buy and sell emission credits as part of a cap-and-trade system designed so that cleaner factories and energy generation facilities pay less.

Both free market economists and green activists hate the system, albeit for different reasons. ®

High performance access to file storage

More from The Register

next story
Parent gabfest Mumsnet hit by SSL bug: My heart bleeds, grins hacker
Natter-board tells middle-class Britain to purée its passwords
Obama allows NSA to exploit 0-days: report
If the spooks say they need it, they get it
Web data BLEEDOUT: Users to feel the pain as Heartbleed bug revealed
Vendors and ISPs have work to do updating firmware - if it's possible to fix this
Samsung Galaxy S5 fingerprint scanner hacked in just 4 DAYS
Sammy's newbie cooked slower than iPhone, also costs more to build
Snowden-inspired crypto-email service Lavaboom launches
German service pays tribute to Lavabit
One year on: diplomatic fail as Chinese APT gangs get back to work
Mandiant says past 12 months shows Beijing won't call off its hackers
Call of Duty 'fragged using OpenSSL's Heartbleed exploit'
So it begins ... or maybe not, says one analyst
NSA denies it knew about and USED Heartbleed encryption flaw for TWO YEARS
Agency forgets it exists to protect communications, not just spy on them
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.