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
Updated OTC Derivatives Compliance Calendar
ISDA has updated its global calendar of compliance deadlines and regulatory dates for the over-the-counter (OTC) derivatives space.
ISDA Feedback on Identifying Reference Data
On July 20, ISDA submitted feedback to the European Securities and Markets Authority (ESMA) on draft Level 3 guidance on several technical issues caused by the interaction of the recently adopted regulatory technical standard on derivatives transparency (RTS 2) and...
US Basel III Endgame 2026 Update
In March 2026, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation published a new proposal for capital rules known as the US Basel III, based...
Episode 59: Reducing Burdens
As she nears the end of her term as chair of the European Securities and Markets Authority, Verena Ross joins The Swap to discuss progress in simplifying and reducing the burden of EU financial regulation, including transaction reporting. Please view...