At a meeting on September 15, 2021, the CFTC Energy and Environmental Markets Advisory Committee ("EEMAC") recommended the formation of a subcommittee to report back "guiding principles" on the structure of carbon markets.
The new EEMAC subcommittee would report on the design of the derivatives and underlying cash markets for environmental products, including carbon allowances and offsets, that are intended to address greenhouse gas emissions. Subject to CFTC approval, a request for subcommittee member nominations will be published in the Federal Register.
Commissioner Dan M. Berkovitz explained that carbon markets can aid companies in the reduction of emissions and avoidance of climate-related financial risks. Mr. Berkovitz said that an objective of the subcommittee is to include "a broad and diverse range of viewpoints."
Primary Sources
- CFTC Agenda: EEMAC Meeting 9/15/21
- CFTC Press Release: CFTC's Energy and Environmental Markets Advisory Committee to Meet September 15
- CFTC Statement, Dan M. Berkovitz: Opening Statement of Commissioner Dan M. Berkovitz before the Energy and Environmental Markets Advisory Committee
- CFTC EEMAC Meeting: Subcommittee Proposal Discussion
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