EU market supervision: ETS in need of im • Table.Briefings

Last year, the EU Commission had asked the European Securities and Markets Authority (ESMA) to review the workings of the European Emissions Trading System (ETS) with regard to market speculation and manipulation. On Monday, they presented their report.

In October 2021, the European Securities and Markets Authority (ESMA) had started its review. The 143-page report said that based on available data, it found „no material weaknesses in the functioning“ of the ETS. Price fluctuations were driven by supply and demand dynamics, as well as planned reductions in allowances and rising energy prices. The war in Ukraine also had an impact on the ETS. The price had crashed with the start of the Russian war of aggression but has since recovered. According to ESMA, the situation remains volatile.

EU market supervision: ETS in need of improvement

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