WASHINGTON — U.S. Secretary of the Treasury, Janet L. Yellen released the following statement U.S. Secretary of the Treasury, Janet L. Yellen released the following statement on the Commodity Futures Trading Commission’s (CFTC) proposed guidance on voluntary carbon markets:
“I commend the efforts of Chair Behnam and the CFTC to support high-integrity voluntary carbon markets (VCMs). The proposed guidance issued for public comment today represents an important step by the CFTC toward promoting the integrity of carbon credits and enabling greater liquidity, price discovery, and responsible product innovation for credits that underlie derivatives products listed on CFTC-registered exchanges.
Today’s proposed guidance comes two months after Treasury released our Principles for Net-Zero Financing and Investment, which in part highlighted some of the challenges and opportunities associated with VCMs. Such markets have the potential to help advance climate and sustainable development goals while supporting technological innovation and economic growth.
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.”