CBL 2021 Carbon Volume Tops 100M Metric Tons on Surging Demand Tied to Paris Goals
SYDNEY, NEW YORK, SAN FRANCISCO — Xpansiv market CBL, the world’s largest exchange for trading carbon credits, renewable energy certificates (RECs), water entitlements, and digital fuels, today announced carbon credit volume passed 100 million metric tons year-to-date—a gain of 384% over the same period a year ago.
The growth reflects increasing demand from companies implementing net-zero programs to attain Paris Agreement goals, as well as an influx of corporates, financial institutions, offset project developers, and fund managers drawn to the exchange’s transparent order book, robust price discovery, and deep liquidity.
Carbon volumes were enhanced by several exchange innovations implemented this year, including the launch of CBL’s Global Emissions Offset™ (GEO™), and Nature-Based Global Emissions Offset™ (N-GEO™) contracts, the first benchmark instruments for the VCM; the debut of CBL’s facility to settle OTC transactions through the exchange’s post-trade infrastructure; and the introduction of CBL GEO and CBL N-GEO futures by CME Group, which expanded the market’s price discovery, liquidity formation, and risk management utility.
“This truly momentous milestone is a testament to the vital role the voluntary carbon market plays in corporate net-zero programs, CBL’s central position as a global trading and clearing hub for carbon, the dedicated support of our more than 400 members, and the ingenuity and incredibly hard work of our team,” said Ben Stuart, Xpansiv Chief Commercial Officer. Stuart, together with Xpansiv Chief Strategy Officer Nathan Rockliff, co-founded CBL in 2009.
The strong rise of CBL’s carbon volumes reflects growth across the VCM. 2021 is projected to be the first year the notional value of VCM transactions tops $1 billion, according to data from Ecosystem Marketplace. Overall VCM transaction volume is up nearly 60%. CBL’s 2021 market share is 29.5%, up from 17% in 2020.
Xpansiv is the global marketplace for ESG-inclusive commodities. These Intelligent Commodities bring transparency and liquidity to markets, empowering participants to value energy, carbon, and water to meet the challenges of an information-rich, resource-constrained world. The company’s main business units include CBL, the largest spot exchange for ESG commodities, including carbon, renewable energy certificates, and Digital Natural Gas; H2OX, the leading spot exchange for water; XSignals, which provides end-of-day and historical market data; and EMA, the leading multi-registry portfolio management system for all ESG-inclusive commodities. Xpansiv is the digital nexus where ESG and price signals merge. Xpansiv.com
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