Over-supply fears gripped the Chinese carbon markets as emission allowances found no takers even at record-low prices.
Hubei, Shenzhen, Shanghai, and Guangdong reported huge increase in allowance transactions last week.
Shenzhen carbon allowances rallied by up to 15% on back of big volumes as covered entities looked to meet verification and compliance deadlines.
All covered entities under the Guangdong carbon market would be required to surrender compliance instruments by 20 June 2015.
Traded volume in Guangdong and Shanghai were at multi-month highs are allowance prices remained under pressure.
A top official of the National Center for Climate Change Strategy urged provinces to implement effective measures to develop a national carbon market
2013 Shenzhen Emission Allowances jumped 12% while Hubei Emission Allowances rallied 4%.
Emissions traded volume across the 7 carbon markets in China spiked as covered entities entered entered verification and compliance timelines.
Compliance entities were offered 1 million allowances during the third auction of emission allowances in the Guangdong pilot ETS this compliance year.
Guangdong emission allowances gained the most across the 7 pilot carbon markets in China as compliance deadlines neared.