International Organization of Securities Commissions Final Report on Voluntary Carbon Markets

The International Organization of Securities Commissions has finalized a report on promoting the financial integrity and orderly functioning of the Voluntary Carbon Markets. The final report includes a set of 21 good practices for Voluntary Carbon Markets to support the financial integrity of carbon credits and carbon markets as Voluntary Carbon Markets continue to develop, with the aim that carbon markets should be fair and orderly, economically sound as to pricing and information flow, and structurally resilient. The good practices address transparency, liquidity, and price discovery, as well as potential fraud or greenwashing, based on IOSCO's objectives of investor protection, fair, efficient, and transparent markets, and reducing systemic risk. The good practices are directed at: (i) relevant regulators and authorities interested in carbon credit markets in their jurisdictions that function with integrity; (ii) trading venues interested in listing and trading high-quality spot carbon credits or carbon credit derivative products; and (iii) relevant market participants.

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