Record Volumes Continue for CBL; Voluntary Carbon Offsets Trading Tops 25 Million YTD, Up 235%
NEW YORK, SAN FRANCISCO, SYDNEY – 19 November 2020 — Xpansiv company CBL, the leading spot commodity exchange, has announced a new monthly volume record within the first two weeks of November. The increased volumes were underpinned by the international carbon market and the recently launched Global Emissions Offset™ contract (GEO).
With 25.2 million voluntary carbon offsets traded year-to-date, CBL has surpassed the total number of offsets it traded during the same period in 2019 by 235%. As of 17 November, 20,609 lots were traded across all markets—an increase from the previous record trading month of 20,263 in March. CBL has seen a strong year for international carbon with more than 3.6 million credits traded month-to-date, including increased activity in the GEO™ spot contract.
“Since the first trade in October 2020, we’ve seen a large appetite for the GEO, indicating sustained interest in a carbon benchmark,” said Ben Stuart, Xpansiv Chief Commercial Officer. “There’s an increase in new market participants and corporate clients looking for a simplified pathway to offset their carbon footprint. The GEO serves this purpose, while creating liquidity and efficiency in the market.”
The GEO embodies market pricing of high-quality offset projects that underly the contract. “The GEO is a truly global product,” said Xpansiv President and COO John Melby. “It offers an alternative to regional market pricing information for regulatory-driven markets.”
CBL is the leading exchange for spot environmental commodities, including carbon offsets, renewable energy, and differentiated natural gas. An expanding group of global corporations and financial companies trade on the exchange to meet their voluntary and compliance climate goals. CBL’s end-of-day and historical market data—provided by its XSignals affiliate—enables market participants to trade and manage risk more effectively.
CBL provides access to the world’s energy and environmental commodity markets, facilitating the secure and seamless trading of commodities like carbon, renewable energy, water, and gas. cblmarkets.com
About Xpansiv Xpansiv is the world’s first commodity marketplace built for a data-rich, resource-constrained world. We bring transparency to global markets through innovative, ESG-inclusive commodity products and price information. The company’s main business units include XRegistries, XMarkets, and XSignals. xpansiv.com
Contact: Rob Dalton, Xpansiv VP Marketing & Communications—firstname.lastname@example.org