U.S. Federal Agencies Release Joint Policy Statement Related to Voluntary Carbon Markets

The U.S. Department of the Treasury and several other federal agencies have released a joint policy statement and principles related to voluntary carbon markets (VCMs). The agencies indicate that they have released the publication because they think VCMs “can and should play a meaningful role in facilitating global greenhouse gas emissions . . . reductions and removals and helping to reach global net-zero emissions by 2050 and limit warming to 1.5 °C.” In addition to providing “observations on the current state of VCMs and their potential,” the publication “outlines voluntary principles that U.S. market participants should embrace as they engage in these markets.”

For more information, see the press release on the U.S. Department of the Treasury’s Web site.