Investors say they have lost faith in a spot market in European carbon emissions permits after a 45 million euro cyber theft. The European Commission halted spot trade two weeks ago after permits called EU Allowances (EUAs) vanished from national, electronic carbon accounts called registries in Greece, Austria and the Czech Republic. “It’s an absolute disaster for the spot market,” said Louis Redshaw, head of environmental markets at Barclays Capital. “We’re at the point now where the market is essentially broken. You can’t fix it with security alone.” “The serious question of legal liability may mean the spot market remains all but dead,” Andrew Ager, head of emissions trading at Bache Commodities, told Reuters.