How big are the regulated ETS in comparison to the voluntary carbon market?

Regulated trading schemes cover a larger amount of carbon emissions with fewer parties involved when compared to the voluntary carbon markets.  Last year the value of global carbon markets hit a record of EUR 229 billion, a five-fold increase from 2017 and the fourth consecutive year of record growth. 

In 2020, the EU ETS issued over 1,300 allowances of 1mt of CO2 each (for a total of 1.3 billion tonnes). The newly created Chinese ETS was worth 4 billion tonnes. In the same year, the voluntary carbon market issued over 220 million high-quality carbon credits of 1t of CO2 each.  In 2020 around EUR 1 billion-worth of carbon offsets changed hands a day.

ETSs cover larger polluters and therefore cover a more representative volume of emissions (i.e. 1.3-1.5 billion tonnes in the ETS space vs. 0.22 billion tonnes in the voluntary market), and the voluntary markets involve more parties (you and me as a consumer, a small business owner, a large retail company, etc.) and therefore a greater number of emissions certificates.