The Commodity Futures Trading Commission (CFTC or Commission) announced September 10, 2025, that it is withdrawing its “Guidance Regarding the Listing of Voluntary Carbon Credit Derivative Contracts.”[1] The Guidance, a substantial document running 18 pages in the Federal Register, was published just last October. The Guidance reviewed key factors that designated contract markets (DCMs) (i.e., derivatives exchanges) should consider when determining whether to list derivatives on voluntary carbon credits (VCCs). [4]Since the Guidance did not create any affirmative obligations on DCMs in listing derivatives on VCCs, its withdrawal should have no substantive effect on their continued listing. [1] Withdrawal of Commission Guidance, 90 Fed. [2] Commission Guidance Regarding the Listing of Voluntary Carbon Credit Derivative Contracts, 89 Fed.