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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Environmental

Date & Time
  • event Date

    Tuesday, November 12, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$297.00
CLE
ALL

This CLE webinar will provide a comprehensive overview of the current state of voluntary carbon markets (VCMs) and evolving VCM regulation. The panel will also examine to what extent VCMs may be a viable tool to help reduce GHG emissions and offer best practices for advising clients on navigating VCMs.

Faculty

Alexander S. Holtan
Partner
Holland & Knight LLP

Mr. Holtan counsels energy clients on trading in derivatives, enforcement matters and compliance with derivatives-related regulatory requirements, including those imposed by the Commodity Futures Trading Commission (CFTC). He provides interpretation and guidance on rules promulgated by various federal agencies, the National Futures Association (NFA) and a number of derivatives exchanges. In addition, Mr. Holtan frequently assists clients, including swap dealers, commodity trading advisers, commodity pool operators, introducing brokers and commodity traders with CFTC and NFA registration, and creating and improving derivatives trading compliance programs. Mr. Holtan also has helped clients launch commodity trading and investment funds for crude oil and renewable energy and carbon offsets and allowances. He also advises energy firms, commercial end users, investment banks and pooled investment vehicles on an array of derivatives and other transactions.

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Simon Puleston Jones
Managing Director and Founder
Emral Carbon

As a broker, lawyer and serial entrepreneur, Mr. Puleston Jones is active across carbon markets through his brokerage business Emral Carbon, his consultancy to Philip Lee LLP (Environmental Finance’s Best Law Firm in the VCM 2023 and 2024) and as founder of the global jobs board for carbon markets, Jobs in Carbon. Among other roles during his 25-year career to-date, he was previously a structured finance and derivatives lawyer at law firm Simmons & Simmons and at Barclays investment bank, CEO of one of Europe’s leading financial services trade associations, Chair of the Joint Trade Association Group and founder of the social media platform for the United Nations Sustainable Development Goals.

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Description

Under pressure to reduce their carbon footprint, many companies have turned to carbon credits or "offsets" as part of an overall plan for carbon reduction. Carbon credits can be traded on a voluntary marketplace, which connects buyers of emission reduction and removal credits to sellers. But a series of high-profile controversies has called into question the effectiveness and integrity of using these markets, leading to greenwashing accusations against some users.

In an effort to restore confidence in and strengthen VCMs, the White House recently released VCM guidance that provides observations on the current state of VCMs and their potential and outlines seven principles that should guide U.S. VCM market participants. While the guidelines are non-binding, they demonstrate the government's focus on VCMs.

There are also ongoing efforts on federal, state, and international levels to regulate VCMs. For example, the Commodity Futures Trading Commission (CFTC) finalized guidance on Sept. 20, 2024 with the goal of advancing "the standardization of voluntary carbon credit derivative contracts in a manner that fosters transparency and liquidity, accurate pricing, and market integrity." California has recently enacted legislation to promote the transparency and integrity of VCMs with certain public disclosure requirements. And the EU has banned the use of environmental claims for products that are based solely on offsetting and which may impact VCMs.

Listen as our expert panel provides a comprehensive overview of the current state of VCMs and VCM regulation. The panel will examine whether and to what extent VCMs may be a viable tool to help reduce GHG emissions. The panel will also offer best practices for advising clients on navigating VCMs.

Outline

  1. Introduction
    • Overview of VCMs
    • VCM challenges and credibility issues
  2. Federal guidance and regulation
    • White House VCM policy statement and principles
    • CFTC guidance
  3. State guidance and regulation
    • CA
  4. International standard-setting efforts and market development
    • EU ban on environmental claims based solely on offsetting
  5. Best practices for helping clients navigate VCMs
  6. Practitioner takeaways

Benefits

The panel will review these and other important considerations:

  • How can VCMs be used to limit GHG emissions and shrink the carbon footprint of corporate entities?
  • What controversy has arisen over the use of VCMs and why?
  • How is VCM regulation evolving on a local, national, and international scale?
  • What are best practices for helping clients navigate VCMs?