U.S. Secretary of the Treasury Janet L. Yellen issued a statement regarding the Commodity Futures Trading Commission’s (CFTC) final guidance on voluntary carbon credit derivative contracts.
“I commend Chair Behnam and the CFTC for the release of their final guidance to support high-integrity voluntary carbon markets (VCMs). The CFTC’s guidance will promote the integrity of carbon credits and enable greater liquidity and price transparency. I look forward to continued collaboration with the CFTC and other government agencies involved in shaping the development of responsible, high-functioning, and high-integrity VCMs as part of the Biden-Harris Administration’s ambitious efforts to tackle the climate crisis and accelerate a clean energy transition that benefits all Americans,” Yellen stated.
This final guidance follows a recent release by the Department of the Treasury and Biden-Harris Administration of the Voluntary Carbon Markets Joint Policy Statement and Principles, which stressed credit and market integrity in VCMs.
