The details: The proposed guidance outlines certain factors a CFTC-regulated exchange, or designated contract market (DCM), should consider when addressing requirements of the Commodity Exchange Act (CEA) and CFTC regulations that are relevant to the contract design and listing process.
Important context: This follows two voluntary carbon market convenings where the CFTC brought together industry participants and heard about problems in the voluntary carbon markets and the lack of standardization to address the integrity of voluntary carbon credits.
Deadline for comments: The comment period will end on February 16, 2024.
FCA welcomes the launch of industry code of conduct for ESG ratings and data products providers
The International Capital Market Association (ICMA) and the International Regulatory Strategy Group (IRSG) have launched a voluntary code of conduct for Environmental, Social and Governance (ESG) ratings and data products providers.
For background: In 2022, the FCA appointed the International Capital Market Association (ICMA) and the International Regulatory Strategy Group (IRSG) to convene an industry group to develop a globally consistent voluntary code for those providing the third-party data and ratings increasingly relied upon by the market. The FCA, the Treasury and other national and international financial regulators acted as observers as the code was agreed.