- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2024-05-28T19:20:00
The Treasury Department and other U.S. agencies announced a coordinated federal policy Tuesday concerning carbon credits and other voluntary incentives to encourage businesses and agriculture to cut their carbon footprints.
Excessive carbon emissions from manufacturing, energy production, and agriculture are behind climate change expected to worsen without stronger interventions. The United States and other nations have adopted a goal of being “net zero” in carbon emissions by 2050.
To move toward that goal, a small slice of U.S. businesses have set their own objectives to reduce or eliminate their carbon emissions by a certain time. Some participate in a voluntary carbon market (VCM) as a path to reach their reduction goals.
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The Commodity Futures Trading Commission promoted the need for developing high-integrity voluntary carbon markets in publishing proposed guidance for the listing of voluntary carbon credit derivative contracts.
There is much companies can do—and must do, given upcoming regulatory requirements—to rein in Scope 3 emissions, sustainability expert Susan McNichols discussed at CW’s virtual ESG Summit.
Companies are working on plans to reduce their carbon emissions. The popularity of environmental credits has grown as a way for companies to meet their emission reduction targets.
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
The Supreme Court of the United States overturned a long-held precedent in which courts deferred to federal agencies in interpreting complex or ambiguous regulations–a decision that could make thousands of federal regulations more vulnerable to legal challenges.
Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs under a new rule proposed by the Treasury Department’s Financial Crimes Enforcement Network.
