Michael Spafford

Aug 8, 2024 | jdsupra.com | Tara Giunta |Paige Rinderer |Michael Spafford

On July 31, 2024, nine Democratic lawmakers from the House and Senate wrote a letter to the Commodity Futures Trading Commission’s (“CFTC”) Chairman in support of the proposed guidance regarding the listing of voluntary carbon credit derivatives contracts.[1] In the letter, the lawmakers highlighted the “immature nature of voluntary carbon credit markets” and the “significant financial, environmental, and legal risks” posed to market participants and other stakeholders.

Jul 25, 2023 | americanbar.org | Annette L. Nazareth |Michael Spafford

The second fireside chat at the 2023 ABA Derivatives and Futures Law Committee mid-year program, hosted by Michael Spafford of Paul Hastings, featured Annette Nazareth, the Chair of the Governing Board of the Integrity Counsel for the Voluntary Carbon Market (Integrity Council), an independent governance body for the voluntary carbon market. Ms. Nazareth discussed the Integrity Council’s role and future actions, including its recently issued Core Carbon Principles (CCP) and Assessment Process.

Jul 14, 2023 | jdsupra.com | Tara Giunta |Michael Spafford |Paige Rinderer

The voluntary carbon market is rapidly growing to match the increasing focus by corporate leaders on ESG efforts and net-zero goals. In 2021, the voluntary carbon market reached $2 billion, and by some estimates may be worth up to $50 billion by 2030. This growth, however, does not come without increased risk.