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CFTC Urges Potential Whistleblowers to Report Carbon Credit Misconduct
August 15, 2023The Whistleblower Office of the Division of Enforcement of the Commodity Futures Trading Commission (CFTC) issued an alert on June 20, 2023 advising the public on how to identify and report potential violations connected to fraud or manipulation in the carbon markets, including:
- Manipulative and wash trading in carbon market futures contracts;
- “Ghost” or “illusory” credits listed on carbon market registries;
- Double counting or other fraud related to carbon credits;
- Fraudulent statements relating to material terms of the carbon credits, including quality, quantity, additionality, project type, environmental benefits, permanence or duration, or the buffer pool; and
- Manipulation of tokenized carbon markets.
