Adam Waszkiewicz

Jun 12, 2024 | jdsupra.com | Parker Lee |Nicholas Neuberger |Adam Waszkiewicz

The recent Joint Policy Statement and Principles (Principles) released by the Biden Administration, and related remarks by Secretary of the Treasury Janet L. Yellen, mark a significant milestone in the development of the voluntary carbon market (VCM). Our views on this announcement and a brief summary of these Principles are set out below. This is a very encouraging, and intriguing, governmental announcement in respect of an unregulated, international market.

May 13, 2024 | mondaq.com | Nicholas Neuberger |Adam Waszkiewicz

As the voluntary carbon market (the "VCM") rapidly evolves, it is attracting further scrutiny and questions surrounding governance and quality control. Investments in carbon credits are now substantial. It is estimated that in 2023, over 300 million carbon credits were issued, with the VCM valued at approximately $2 billion. Commercial banks have set up trading desks dedicated to the financing of VCM projects and trading of carbon credits.