LONDON (Reuters) – The European Union’s securities watchdog said on Thursday its preliminary investigation had found no proof that the bloc’s carbon emissions market was being abused.
ESMA was asked by the EU’s executive, the European Commission, to study the market after accusations of hedge fund speculation.
“The growing number of market participants appears in line with the observed expansion of the EU ETS market,” ESMA said in its report, referring to the European trading scheme.
“The increase in the number of market participants by itself cannot be taken as proof for any patterns of disorderly trading or abusive behaviour present in the carbon market. ESMA will nonetheless further analyse these trends in its next report.”
(Reporting by Huw Jones; Editing by Tommy Wilkes)
