Sixth Session of the UNIDROIT Working Group on the Legal Nature of Verified Carbon Credits

The sixth session of the Working Group on the Legal Nature of Verified Carbon Credits (VCCs) was held at the seat of UNIDROIT in Rome and online from 10 to 12 September 2025. The UNIDROIT Working Group on the Legal Nature of VCCs, chaired by Professor Hideki Kanda, Emeritus Professor at the University of Tokyo and Member of the UNIDROIT Governing Council, is developing a set of Principles and Commentary to provide guidance on private law issues concerning VCCs, build confidence in VCC transactions, and foster a robust carbon market. The session was attended by 58 participants, including representatives from international, regional, and intergovernmental organisations, as well as from the private sector and academia.

In her capacity as Chair of the Consultative Committee, Ms Sharon Ong, Director-General, Ministry of Law, Singapore and Member of the UNIDROIT Governing Council, delivered a presentation to the Working Group outlining the feedback provided by the Consultative Committee. The Consultative Committee is composed of experts nominated by 20 UNIDROIT Member States and has been asked to provide written input on the draft instrument being developed. The Working Group also discussed inter alia, proposed changes to defined terms, as well as revisions to the section addressing cancellation of a VCC. The topic of applicable law was also discussed with the benefit of input from the Hague Conference on Private International Law.

Two further sessions of the Working Group are scheduled for December 2025 and April 2026. For further details on the UNIDROIT Project on the Legal Nature of VCCs, visit the UNIDROIT website.

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