You want the conda-env command instead, specifically
conda env update -n my_env --file ENV.yaml
Read the conda env update --help for details.
If you wish to install this in the base env, then you would use
conda env update -n base --file ENV.yaml
Note that the base env isn’t technically “global”, but rather just the default env as well as where the conda Python package lives. All envs are isolated unless you are either using the --stack flag during activation to override the isolation or have – contra recommended practice – manually manipulated PATH to include an env.