EU Plan to Boost Carbon Oversight ‘Long Overdue,’ Barclays S


EU Plan to Boost Carbon Oversight 'Long Overdue,' Barclays Says
2010-12-21 17:48:56.765 GMT

By Mathew Carr
Dec. 21 (Bloomberg) -- The European Union's plan to improve
the oversight of the prompt carbon market is "long overdue,"
according to Louis Redshaw, head of environmental markets for
Barclays Capital in London. He was speaking today by phone.
The EU today proposed to tighten regulation of the world's
biggest carbon market next year to step up protection against
fraud and theft in spot trading.

On the proposal to improve market oversight:
"This is long overdue. We've been asking for this for one-
and-a-half years. It's needed to avoid any more scandals around
the design of the EU emissions trading system. We and companies
like us are trying to deliver the EU's climate policy. Sometimes
it seems like we are battling against headwinds of illegitimate
interest with unclear legal protection. It's extremely
encouraging to see the commission come out with such a
recommendation. Market integrity requires it."

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--Editors: Rob Verdonck, Stephen Voss

To contact the reporter on this story:
Mathew Carr in London at +44-20-7073-3531 or

To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or sev@bloomberg.net