The European Securities and Markets Authority published its third annual report on EU carbon markets on 9 July 2026. The report finds that financial intermediaries continue to play a central role by providing liquidity, acting as counterparties to non-financial firms and helping compliance entities obtain allowances and manage price risk.
Investment firms and credit institutions accounted for around 62% of trading volumes in 2025, while the value of EU carbon markets reached EUR 777 billion. ESMA found the market to be resilient and did not identify major concerns regarding transparency or market integrity, although volatility increased in early 2026.
Official source: https://www.esma.europa.eu/press-news/esma-news/financial-firms-keep-eu-carbon-markets-moving
