Washington, DC (July 30, 2007)- Chairman Edward Markey (D-MA) of the House Select Committee on Energy Independence and Global Warming sent a letter to Chairman Platt Majoras of the Federal Trade Commission (FTC) as a first step towards regulating the growing market in voluntary carbon offsets. The $100 million/year commodities market is still largely unregulated.
“These aren’t just consumer commodities, they’re climate commodities,” said Markey. “Protecting consumers on carbon offsets also protects the planet.”
In the letter, Markey asked the Federal Trade Commission to evaluate existing guidelines for environmentally-friendly products and look for additional ways to apply those guidelines to the carbon offset market. “Consumers who buy carbon offsets are doing so because they want to be part of the solution,” Markey said. “We need to make sure these responsible consumers are getting what they pay for.”
Markey sent a similar letter to EPA on July 27.