- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-12-04T19:28:00
The Commodity Futures Trading Commission (CFTC) promoted the need for developing high-integrity voluntary carbon markets in publishing proposed guidance for the listing of voluntary carbon credit (VCC) derivative contracts.
The proposal, put forward by the CFTC on Monday, does not seek to modify existing regulatory requirements but instead outline particular commodity characteristics designated contract markets should consider when designing a VCC futures contract’s terms and conditions, said CFTC Chairman Rostin Behnam in a statement. The guidance follows two years of examination of carbon markets by the agency.
“The primary takeaway from this research and public engagement is clear: The commission should act, consistent with its statutory authority under the Commodity Exchange Act, to strengthen market integrity, transparency, and liquidity for derivatives with an underlying VCC that are real, additional, permanent, verifiable, and represent unique metric tons of [greenhouse gas] emissions reduced or removed from the atmosphere,” said Behnam.
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The Treasury Department and other U.S. agencies announced a coordinated federal policy concerning carbon credits and other voluntary incentives to encourage businesses and agriculture to cut their carbon footprints.
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