Brokers establish own carbon trading risk tests
Carbon brokers establish their own checks for assessing counterparty risk, following European market authorities’ failure to react to a spate of carbon market fraud.
Brokers for European Union Emission Allowances (EUAs) and Certified Emission Reductions (CERs) under the European Emissions Trading Scheme (EU ETS) have established their own procedures for assessing counterparty risk, following governments' and regulators' failure to deal adequately with market fraud, says pricing and research house ICIS Heren.
EU governments and carbon registry offices not only failed to assess the legitimacy of carbon trading offices, but they were slow to react to fraud in
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