As we approach the global climate talks in Glasgow, there is a rising urgency for countries to ramp up climate action. Equally urgent is the need to create a meaningful, productive space for effective global cooperation.
A recent series of meetings of the Commodity Futures Trading Commission’s (CFTC) Energy and Environmental Markets Advisory Committee (EEMAC) highlighted the risks of a forecast boom in offset emissions futures contract trading. The underlying assets of offset futures are projects to reduce, avoid or that claim to permanently remove greenhouse gas emissions.
We thank the Commodity Futures Trading Commission (CFTC, or Commission) for the invitation to comment on the proposal by the Commercial Energy Working Group to form an EEMAC carbon markets subcommittee.1 The proposed stakeholder group would produce a report on principles for designing the derivatives and underlying cash markets for
As the climate emergency deepens, governments, civil society, corporations and individuals must pursue multiple paths in order to meet or exceed the goals of the Paris Climate Agreement. The Paris Agreement is not self-enforcing, and the commitments of the signatory governments are voluntary.
The COP26 climate change conference scheduled for October 31 – November 12 in Glasgow, Scotland, should be postponed, according to member organizations from CLARA, the Climate, Land, Ambition and Rights Alliance.
