US regulators have announced they will be policing the emerging carbon credit markets and looking for indications of fraud or manipulation.
As projections for carbon markets keep increasing in size with more and more companies pledging to achieve carbon neutrality in the years ahead, the push for more control from regulators becomes stronger.
Major companies across almost all industries, including tech giants like Apple and Microsoft alongside oil and gas supermajors such as Shell and BP, have already invested millions in carbon credits in order to offset their own CO2 emissions and support projects that can benefit the climate.
The announcement comes from the Commodity Futures Trading Commission (CFTC), which is responsible for regulating derivatives markets in the US.
The CFTC said it will make it a priority to police carbon credits and monitor the market for cases of sellers misstating a project’s benefits.
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