The European Union’s Emissions Trading System (ETS) does not currently have any major deficiencies in its functioning, the European Securities and Markets Authority (ESMA) concluded in a report published on Monday 28 March.
“Overall, ESMA considers that the data analysis has not unearthed any major abnormality or fundamental issue in the functioning of the EU carbon market from a financial supervisory perspective” the report states, confirming ESMA’s preliminary analysis issued on...