ISDA published a paper in December 2021 that considered the legal implications of voluntary carbon credits (VCCs). Specifically, it investigated the legal treatment of VCCs and considered certain other aspects of VCC transactions, including when they might be regulated as derivatives. It also recommended steps that could be taken to further develop legal certainty in VCCs at both a global and jurisdictional level.
The legal nature of VCCs is currently a jurisdiction-specific question that must be determined by reference to national laws. The 2021 whitepaper explored the legal treatment of VCCs under English, US and German laws.
In response to continued interest in VCCs, this paper considers the legal nature of VCCs under French, Japanese and Singapore laws.
Click on the attached PDF to read the paper in full.
Documents (1) for The Legal Nature of Voluntary Carbon Credits: France, Japan and Singapore
Latest
ISDA AGM Studio: Emmanuel Geinoz and Eleanor Kelly
Five jurisdictions went live with revised derivatives reporting rules in 2024, with more to follow in 2025 and beyond, putting reporting teams under extreme pressure to implement accurately and on time to avoid regulatory penalties. Emmanuel Geinoz, market infrastructure and...
ISDA AGM Studio: Tyler Wellensiek, Stephen Berger
The first phase of the Securities and Exchange Commission’s Treasury clearing mandate will come into effect in December 2026 – a requirement that will have a significant impact on both US and non-US market participants. Tyler Wellensiek, ISDA board member...
ISDA AGM Studio: Jacques Vigner, BNP Paribas
Jacques Vigner, ISDA board member and chief strategic oversight officer for global markets at BNP Paribas, speaks with Mark Gheerbrant, global head of risk and capital at ISDA, on the key obstacles to a consistent, risk-appropriate capital framework and how to...
ISDA AGM Studio: Future Leaders in Derivatives
Following publication of the latest whitepaper from the ISDA Future Leaders in Derivatives (IFLD) program, Collateral and Liquidity Efficiency in the Derivatives Market: Navigating Risk in a Fragile Ecosystem, Joel Clark talks to IFLD participants Koen Ottenheijm, senior treasury and...