Xpansiv Market CBL to Launch Contract that Aligns with TSVCM Core Carbon Principles
SYDNEY, NEW YORK, SAN FRANCISCO, LONDON — Xpansiv market CBL, the world’s largest spot exchange for energy and environmental commodities, has announced plans to launch the CCP-GEO, a standardized carbon offset contract specifically designed to align with the initial recommendations for Core Carbon Principles (CCP) defined by the Taskforce for Scaling Voluntary Carbon Markets. Xpansiv fully supports the CCPs and seeks to help drive an array of new voluntary market mechanisms to conform with CCP Working Group governance efforts.
“The CBL CCP-GEO contract will provide market participants with a tradeable instrument that covers a broad range of high-quality credits that align with the CCP,” said Henrik Hasselknippe, Xpansiv Head of XMarkets. “We designed this new contract to complement the GEO and N-GEO under our Standard Instruments Program, and to help scale market supply and delivery of credible credits.”
The new spot contract will establish screening criteria that build on those for the GEO, with specific CCP-aligned modifications that create a larger, less-constrained credit supply.
“With carbon-reduction goals increasingly in focus, market-based strategies will continue to be an important part of the solution,” said Peter Keavey, Global Head of Energy Products at CME Group. “We welcome this announcement and the expanding universe of carbon credit trading through CCP-aligned contracts. We remain committed to working with CBL and the industry to further build and continuously expand liquidity and effectiveness for risk management and price discovery.”
More than 14.5 million mtCO2e have been transacted through CBL GEO and N-GEO spot contracts since the first GEO trade in September 2020. CME Group has seen more than 25 million mtCO2e traded through its linked CBL GEO and N-GEO futures contracts, which are also CCP-aligned.
“Like the entire suite of GEO products, the CCP-GEO is being developed to provide a benchmark reference price for underlying market sectors,” said Xpansiv Chief Commercial Officer Ben Stuart. “The GEO tracks CORSIA-eligibility criteria established for international aviation. The N-GEO follows agriculture, forestry, and other land-use criteria along with additional climate, community, and biodiversity co-benefits. And the CCP-GEO is the latest addition to the GEO family, designed to rapidly expand the supply of reliable credits to accelerate the net-zero transition.”
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 in Australia; 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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