Special Report No 06/2015: The integrity and implementation of the EU ETS

Summary:

A report published in July 2015 by the European Court of Auditors (ECA) found that the European Commission and Member
States did not adequately manage all aspects of the EU Emissions Trading System (EU ETS), which is a main element of the EU climate and energy package.

While the auditors noted continuous improvements introduced at the initiative of the Commission to protect the integrity of the EU ETS as a market-based mechanism, some issues still had to be addressed to further improve market integrity. The system also suffered from significant weaknesses in implementation in phase II (2008-2012).

The report recommends improvements to market regulation and oversight so as to increase investor confidence and leverage the EU ETS as a tool of environmental policy.

• Primary Source

ECA: News, 02.07.15: EU Emissions Trading System – framework for protecting market integrity and implementation of ETS need further improvements https://www.eca.europa.eu/en/Pages/NewsItem.aspx?nid=5856

EurActiv, 03.07.15: Emissions trades still at risk of fraud, EU auditors warn http://www.euractiv.com/sections/energy/emissions-trades-still-risk-fraud-eu-auditors-warn-315964

ESO: Key source: Emissions Trading System (EU ETS) http://www.europeansources.info/record/emissions-trading-system-eu-ets/

ECA: Special Report No 06/2015: The integrity and implementation of the EU ETS [PDF] https://www.eca.europa.eu/Lists/ECADocuments/SR15_06/SR15_06_EN.pdf

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