“It’s unbelievable the amount of capital that’s being mobilised,” says Xpansiv CEO Joe Madden.
The company operates the world’s largest voluntary carbon offset exchange, with more than 120 million tonnes of carbon traded on its CBL Exchange last year. That was a fourfold increase on 2020 and about 36% of global volume. The surge in activity helped the price of carbon offsets leap a staggering 889% last year, making it one of the best performing commodities in the world.