Security to be increased in the Swiss Emissions Trading Registry

Bern, 15.12.2011 - Following cyber attacks on a number of European emissions trading systems at the start of this year, the Federal Office for the Environment (FOEN) has introduced a variety of measures to improve security in the Swiss Emissions Trading Registry. The amended Ordinance comes into force on 1 January 2012.

The National Emissions Trading Registry is the platform for implementing the Swiss emissions trading scheme. It is an online accounting system that ensures the precise recording of emission credits. The cyber attacks on various European emissions trading registries made public at the start of this year have shown that these trading platforms are vulnerable to attack. The Federal Office for the Environment (FOEN), which is responsible for the Swiss Registry, has therefore introduced measures in response. On 1 January 2012, amendments to the Ordinance on the National Emissions Trading Registry come into force. These contain various measures aimed at increasing security in the Emissions Trading Registry. For example, the two-person rule will be made mandatory for all accounts in the Registry (see box). In addition, anyone who wishes to operate an account in the Registry must now arrange for the authenticity of all the documents required to open an account to be legalised. In addition, they must have an address for service in Switzerland. Companies that open an account in connection with their exemption from the CO2 tax are exempt from the new regulations.

New version of the Registry software

With immediate effect, the account holders can also use an updated version of the Registry software, which will further improve security in the Registry. The restrictions on business hours introduced in January 2011 as a precautionary measure will continue. Following the attacks on the European emissions trading system (EU ETS) disclosed at the start of 2011, transactions outside office hours were suspended as a precautionary measure, even though the European emission allowances (EUA) affected by the attacked cannot be traded in Switzerland. Security checks have shown that no emission allowances have been misappropriated from the Swiss Emissions Trading Registry.

 

BOX
Two-person rule

From 1 January 2012, the "two-person rule" becomes mandatory for all accounts in the Swiss Emissions Trading Registry. Generally speaking, the two-person rule states that important decisions may not be taken by one person alone. The aim is to reduce the risk of errors and abuse. For this purpose, the account holder appoints a third authorised representative for the account (known as the transaction validator). This person has to confirm all transactions and surrenders of emission credits that have been arranged by the first or second authorised representatives for the account. The third authorised representative for the account, however, is not permitted to arrange transactions themselves.


Address for enquiries

Media Section
Telephone: +41 58 462 90 00
E-mail: medien@bafu.admin.ch



Publisher

Federal Department of the Environment, Transport, Energy and Communications
https://www.uvek.admin.ch/uvek/en/home.html

https://www.admin.ch/content/gov/en/start/dokumentation/medienmitteilungen.msg-id-42709.html