Eco-Energy has expanded its renewable fuel emissions book and claim programme to include biodiesel and renewable diesel, allowing producers of lower carbon intensity fuels to sell on excess emissions saving to corporate end-users.

The new Transport Emission Reduction Certificates will be added to existing ones for fuel ethanol and will be issued, transacted and retired through a registry run by Xpansiv.

Saudi Arabia is looking to launch a national compliance carbon market in the next two three years, the country’s energy minister announced.

Speaking at the kingdom’s Future Investment Initiative in Riyadh – known as the “Davos in the Desert” due to the array of global financiers that attend – Prince Abdulaziz bin Salman Al Saud also confirmed the Saudi voluntary carbon market (VCM) trading platform is set to launch at COP29 in Azerbaijan next month.
RVCMC earlier this year selected Xpansiv, the owner of the CBL marketplace, to provide the technology infrastructure for its carbon credit exchange.

Tighter emissions caps are driving more Australian companies to trade, while international players controlling facilities like power stations and mines are also entering the market. As the market matures, brokers are moving from over-the-counter (OTC) trades to more sophisticated derivative products, such as futures, forwards and options.

Derivatives exchange CME is catering to Australian companies as they shift towards exchange trading, partnering with exchange platform Xpansiv to launch an ACCU futures contract this month. The Australian Securities Exchange (ASX) launched its own carbon futures contract in July.

Xpansiv CEO Ben Stuart believes derivatives will give companies greater control over carbon risk management, predicting more sophisticated hedging strategies as participation grows.

“The market has evolved to a point now where a derivatives market makes sense, and the need for forward hedging is really essential to managing risk,” he said.

“Ultimately, that’s what the futures contracts are for, so you start to manage price exposure using more long, dated contracts out the curve.”

Xpansiv, a leading provider of market infrastructure for the global energy transition, announced the acquisition of key assets from PineSpire, a company specializing in revenue management services for low-carbon fuel programs across California, Washington, Oregon, and Canada.

“Xpansiv and PineSpire share a common vision, and we are eager to leverage the capabilities of both organizations to deliver optimal customer outcomes,” said Janet Mihalyfi, President of Managed Solutions at Xpansiv. “PineSpire’s management team has a proven record of excellence and innovation, which will enable us to expand our leading presence in low carbon fuels and RECs.”

Thes acquisition is part of Xpansiv’s ongoing strategy to reduce market fragmentation and provide scalable benefits to its customers by consolidating key operators in the low-carbon fuel standard (LCFS) and renewable energy credits (REC) sectors.

Global carbon exchange Xpansiv has partnered with Sydney-based climate data analytics provider Vyzrd to help companies quantify financial risk from climate change, meet climate reporting requirements and implement supply chain decarbonisation.

Xpansiv plans to integrate its environmental commodity market data with Vyzrd’s climate risk and net-zero platform, it said.

The AI-enabled platform quantifies the financial, strategic and operational implications of climate change as well as environmental, social, and governance standards on company performance and valuation.

More than 30 countries, representing over 60% of global GDP, have introduced mandatory climate-related financial disclosure for companies, according to Xpansiv.

Enechain, an online wholesale electricity exchange, has partnered with Xpansiv, the world’s largest environmental spot trading company.

In an interview with NIKKEI GX, President Ryo Nozawa said, “We want to solve the problem of low supply in Japan” by making it possible to purchase Xpansiv’s carbon credits. The company has revealed its intention to aim for 100 million tons of carbon dioxide (CO2) equivalent by 2028.