Verra submits feedback on International Organization of Securities Commissions' December voluntary carbon markets report; firm supports IOSCO's sector involvement but cautione against overreach, recommends focus on combating fraud and market manipulation

Verra has submitted comments (PDF) on the December 2023 International Organization of Securities Commissions (IOSCO) Voluntary Carbon Markets Consultation Report (PDF).

Verra supports IOSCO’s efforts to enhance its role in this sector, as expressed in our comments on IOSCO’s Voluntary Carbon Markets Discussion Paper issued in November 2022. Verra believes that the focus of financial regulators such as IOSCO should be on combating fraud and market manipulation. Verra also believes that financial regulators should bear in mind that environmental standards, as integral pillars of the VCM, require additional expertise to that traditionally held by financial regulators. Accordingly, we are encouraged that IOSCO appears to acknowledge the appropriate, limited role that financial regulators can and should play in the VCM, while cautioning that certain proposed Good Practices imply too broad a role for financial regulators, particularly in relation to primary market issuance.