US Federal Senate Bill SJR9

US Federal 2025-2026 Regular Session

• Introduced: 1/30/25
• Refer: 1/30/25

Caption

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Commodity Futures Trading Commission relating to "Commission Guidance Regarding the Listing of Voluntary Carbon Credit Derivative Contracts".

Impact

If enacted, SJR9 would invalidate the CFTC's guidance, effectively prohibiting any legal enforcement or recognition of the voluntary carbon credit derivative contracts listed under the disputed rule. This could shake up the market for carbon credits, as such derivatives are essential for various companies and investors engaged in sustainability initiatives and environmental compliance. Furthermore, the resolution emphasizes Congress's role in regulating relationships between government agencies and market practices.

Summary

SJR9 is a joint resolution introduced in the United States Senate which seeks to provide congressional disapproval of a rule submitted by the Commodity Futures Trading Commission (CFTC) concerning the listing of voluntary carbon credit derivative contracts. This resolution is part of the congressional oversight process outlined in chapter 8 of title 5 of the United States Code. The move reflects a response to regulatory guidance that some lawmakers may find intrusive or misaligned with their views on market operations concerning carbon credits.

Contention

Debate surrounding SJR9 likely involves opinions on the effectiveness and necessity of existing regulations on carbon trading. Proponents argue that the CFTC's guidance may hamper innovation and deter participants in the growing market. Conversely, opponents may contend that such disapproval undermines necessary regulatory frameworks that can help ensure transparency, protect investors, and maintain market integrity. These differing perspectives highlight a broader discussion on environmental regulation and market self-governance.

Congress_id

119-SJRES-9

Policy_area

Finance and Financial Sector

Introduced_date

2025-01-30