New CFTC Guidance on Voluntary Carbon Credits Underlying Derivative Contracts

The Commodity Futures Trading Commission (CFTC) has released finalized guidance aimed at enhancing the transparency, integrity, and regulatory compliance of voluntary carbon credit (VCC) derivatives listed on U.S. exchanges. This whitepaper breaks down the key elements of the guidance, including how Core Principles 3 and 4 of the Commodity Exchange Act apply to VCC issuance, contract design, and market surveillance.

Explore how this guidance intersects with antitrust and consumer-protection frameworks, including the FTC’s Green Guides, and discover actionable steps for market participants—from conducting gap analyses to strengthening governance and legal risk mitigation.

Whether you’re an exchange operator, trader, or compliance professional, this guide provides the clarity and strategic insight needed to navigate the evolving carbon markets landscape.