CFTC Guidance Helps Strengthen High-Quality Carbon Credits Market

American Petroleum Institute (API) Senior Vice President of Policy, Economics and Regulatory Affairs Dustin Meyer released the following statement after the Commodity Futures Trading Commission’s (CFTC) released its first draft guidance on the trade of carbon credits to reduce greenhouse gas (GHG) emissions:

“High-quality carbon credits are a critical tool to reduce GHG emissions and accelerate a lower-carbon future, and we applaud the CFTC for its commitment to ensuring the voluntary market for carbon trading is trustworthy and transparent. By targeting potential abuses in the carbon offset market, the CFTC’s guidance is an important step toward establishing integrity and credibility through targeted oversight. We look forward to working with the CFTC as it moves forward in this regulatory process to advance our shared goal for accelerating GHG emissions reductions.”

API represents all segments of America’s natural gas and oil industry, which supports more than 11 million U.S. jobs and is backed by a growing grassroots movement of millions of Americans. Our approximately 600 members produce, process and distribute the majority of the nation’s energy, and participate in API Energy Excellence, which is accelerating environmental and safety progress by fostering new technologies and transparent reporting. API was formed in 1919 as a standards-setting organization and has developed more than 800 standards to enhance operational and environmental safety, efficiency and sustainability.