Feeds

Utilities turn in blacklisted carbon emission credits

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

Providing a secure and efficient Helpdesk

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. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
SMASH the Bash bug! Apple and Red Hat scramble for patch batches
'Applying multiple security updates is extremely difficult'
Shellshock: 'Larger scale attack' on its way, warn securo-bods
Not just web servers under threat - though TENS of THOUSANDS have been hit
Apple's new iPhone 6 vulnerable to last year's TouchID fingerprint hack
But unsophisticated thieves need not attempt this trick
Oracle SHELLSHOCKER - data titan lists unpatchables
Database kingpin lists 32 products that can't be patched (yet) as GNU fixes second vuln
Who.is does the Harlem Shake
Blame it on LOLing XSS terroristas
Researchers tell black hats: 'YOU'RE SOOO PREDICTABLE'
Want to register that domain? We're way ahead of you.
Stunned by Shellshock Bash bug? Patch all you can – or be punished
UK data watchdog rolls up its sleeves, polishes truncheon
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.