February 28 (SeeNews) - The European Public Prosecutor's Office (EPPO) said that it has launched an investigation of an unnamed private company responsible for verifying greenhouse gas emissions from thermal power plants and heating plants in Bulgaria over possible fraud concerning the EU Emissions Trading System (EU ETS).
The company is under investigation for allegedly submitting falsified reports to national authorities, leading to the loss of millions of euro from both the EU and national budgets and impacting air quality in Bulgaria, EPPO said in a statement on Monday.
The EU prosecutor has accused the company of knowingly providing false data and documentation for annual reports on greenhouse gas emissions since 2017 so as to under-declare their emissions output under the ETS scheme.
In conjunction with Bulgaria's General Directorate for Combating Organised Crime and the country's State Agency for National Security, EPPO has carried out over 40 searches across 11 Bulgarian cities and interviewed more than 70 witnesses. The searches have resulted in the confiscation of mobile phones, laptops and documentation connected to the investigation.
The EU ETS, which is the world's first carbon market, is a key EU policy for mitigating climate change through a mechanism that reduces greenhouse gas emissions. Within the framework, companies are required to obtain emissions allowances to cover their carbon emissions.