Interagency Working Group Releases Carbon Oversight Study

CFTC Dodd-Frank Working Group

A Federal interagency working group led by the CFTC today released a report on the oversight of existing and prospective carbon markets, fulfilling a requirement established in Section 750 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The report articulates four general objectives for facilitating carbon markets, and concludes that "more detailed work may be necessary to consider the appropriate oversight regime for existing and prospective primary and secondary carbon markets, particularly if or when Congress considers Federal market-based options for reducing greenhouse gas (GHG) emissions."

The report also implicitly views policymakers as integral to the development of such markets: "In designing prospective markets, policymakers also should recognize the ability to achieve the above-described market oversight objectives through both traditional market oversight provisions and in part by the design of the underlying GHG policy."

Document Number

CFTC PR 5965-11

Date

January 18, 2011

Cross References (links may require a Cabinet subscription)

Dodd-Frank Act, Title VII, Sec. 750