ESMA finds EU carbon markets functioning smoothly in new report
The European Securities and Markets Authority (ESMA), the EU financial market regulator and supervisor, has published its annual market report on EU carbon markets.
Looking at the data for 2024, ESMA has not identified any significant issue in the integrity or transparency of EU carbon markets. Emission allowance auctions and secondary markets trading dynamics remain largely unchanged, with the market organised in a way that facilitates the flow of allowances from financial intermediaries to non-financial firms with compliance obligations. The analysis of trading and derivatives positions in the non-financial sector further highlights that the market accommodates different acquisition strategies, reflecting the different needs and capabilities of participants
ESMA produces annually a market report on EU carbon markets as part of its monitoring mandate under the EU Emissions Trading System Directive. The ESMA Carbon Markets report 2025 covers 2024 developments in the primary and secondary markets for EU emission allowances, based on a combination of regulatory and commercial data.
Further information:
Solveig Kleiveland
Team Leader - Communications
press@esma.europa.eu