"Biden Administration Sets New Standards for Carbon Credits"

The U.S. Department of the Treasury, alongside other federal agencies, has released a Joint Policy Statement and Principles for Responsible Participation in Voluntary Carbon Markets (VCMs). These markets, which trade carbon credits to reduce emissions, are seen as crucial for mobilizing private capital to drive decarbonization and economic opportunities. The Biden-Harris Administration aims to ensure these markets operate with high integrity to effectively combat climate change and support economic development, particularly for farmers, ranchers, and developing countries.