CBL is a global exchange platform for transacting energy and environmental commodity products such as carbon, renewable energy, water, and natural gas. We connect buyers and sellers to trade multiple environmental products on one screen.
Renewable Energy: North America
CBL partners with environmental registries to facilitate the trading of compliance and voluntary Renewable Energy Certificate (REC) contracts, providing same-day clearance and settlement for:
- NEPOOL GIS
- PJM GATS
- North American Renewable Registry (NAR)
Renewable Energy: Australia
CBL provides cleared spot trading for products associated with the Renewable Energy Target (RET) and Energy Efficiency Market in Australia.
- Large-scale Generation Certificates (LGCs)
- Small-scale Technology Certificates (STCs)
- Energy Savings Certificates (ESCs)
CBL has operated in the carbon-offset market for more than a decade, and has access to 1000+ projects through partnership agreements with all major carbon standards and access to international products, including:
- Australian Carbon Credit Units (ACCUs)
- Climate Action Reserve (CAR)
- Gold Standard (GS)
- Verra (VCS)
CBL partnered with the International Air Transport Association (IATA) to develop the Aviation Carbon Exchange (ACE). ACE provides a centralized marketplace that helps airlines identify, select, and transact both voluntary as well as CORSIA eligible emission units from the following programs:
- Climate Action Reserve (CAR)
- Gold Standard (GS)
- Verified Carbon Standard (VCS)
CBL offers cleared spot trading of products associated with the Regional Greenhouse Gas Initiative (RGGI) and California Cap-and-Trade Program. Through a partnership with the CME Group, CBL also facilitates the trading of California Carbon Allowance Futures, centralizing the pool of liquidity for both contracts. Products for these programs include:
- RGGI CO2 Allowances
- California Carbon Allowances (CCAs)
- CME Futures Contracts for CCAs
CBL offers cleared spot trading of products associated with the Cross-State Air Pollution Rule (CSAPR), which addresses local air pollution from coal and natural gas power generation from upwind states that crosses state lines and affects air quality in downwind states. The emission products available for trading on CBL include:
- NOx Annual and Seasonal Allowances
- SO2 Group 1 & 2 and Acid Rain Allowances
As consumers demand more environmentally sustainable products, Xpansiv is leading the development of data-driven products, valued according to factors like methane emissions and water utilization. In 2019, CBL facilitated the first exchange-driven transaction for an energy commodity based on its environmental impacts.All Products
CBL partnered with the Tasmanian Gas Pipeline (TGP) to facilitate the trading of a range of gas-storage products on the TGP, with a view to increasing trading, transparency, and efficiency of Australian gas and energy markets. The partnership allows for trading of the following products:
- Primary capacity
- In-pipe loan gas
The H2OX water market helps balance competing demands for scarce resources, and ensures more efficient investment, allocation, and use of water. H2OX facilitates the trading of the following water products:
- Entitlements—rights to an ongoing share of water within a system
- Allocations—volumes of water distributed to users in a given year
- Parking—facilitating the movement of water allocations between seasons
- Options—physically settled water allocation call options to mange interseason water risk
- Leasing—long term leasing of water entitlements to secure access to the entitlement’s seasonal allocation
A Clear Path to Carbon Neutral
The Global Emissions Offset™ is a new way to trade carbon. The GEO® provides companies with streamlined ways to meet compliance and voluntary carbon goals and to manage future price risk.
GEO spot and futures markets enable market participants to buy high-quality carbon offsets—without having to evaluate the vast universe of disparate offset projects. That’s because underlying every GEO contract is an offset that meets the stringent eligibility criteria defined by the International Civil Aviation Organization for CORSIA.
The GEO spot contract is traded on the CBL exchange and GEO futures on the CME. Together, the contracts provide liquidity, transparent price discovery, risk transference mechanisms, and a reliable benchmark for the global carbon market.Learn More
A Nature-Based Path to Carbon Neutral
The Nature-Based Global Emissions Offset™ (N-GEO®) provides companies with a streamlined way to meet emissions-reductions targets using offsets sourced exclusively from Agriculture, Forestry, and Other Land Use (AFOLU) projects. The N-GEO enables market participants to buy high-quality, nature-based offsets without having to evaluate the vast universe of AFOLU projects. Underlying every N-GEO contract is an offset that meets stringent eligibility criteria defined by Verra’s Climate, Community, and Biodiversity (CCB) Standards.
Like the GEO, the N-GEO contract is traded on the CBL exchange and provides liquidity, transparent price discovery, and a reliable benchmark for nature-based offsets. The CCB-accredited units underpinning the N-GEO eliminate many of the operational requirements of trading offsets—you can trust that you’re purchasing carefully vetted projects while promoting biodiversity and supporting developing communities.Learn More
CCP-Aligned Benchmarks for Technology Credits
Core Global Emissions Offset™ (C-GEO™) contracts provide a streamlined way to trade the energy and renewable (technology) segment of the voluntary carbon market with recent, high-quality credits sourced from the Verra Registry.
Underlying every C-GEO contract is an offset that meets stringent eligibility criteria defined in the CBL Standard Instruments Program, which are consistent with initial Core Carbon Principles (CCP) outlined by the Taskforce for Scaling Voluntary Carbon Markets. Trading the C-GEO contracts eliminates many of the operational requirements of trading offsets, because you can trust that you’re purchasing carefully vetted, high-quality projects.Learn More
The Definitive Cookstove Offset Benchmark with Vital Co-Benefits
Introducing the Sustainable Development Global Emissions Offset™ (SD-GEO™), part of the CBL GEO product suite. The SD-GEO contract is essential to liquidity and price discovery in the emerging household device market, simplifying the selection process for buyers who can purchase high-quality offsets with assured integrity and validation.
To qualify for SD-GEO status, high-quality cookstove projects must meet at least five of the United Nation’s Sustainable Development Goals (SDGs). This ensures that SD-GEO credits have substantial co-benefits in addition to mitigating carbon emissions. Cookstove projects focus on positive impacts to local communities and often include SDGs like No Poverty, Good Health and Well-Being, Gender Equality, Affordable and Clean Energy, Responsible Consumption and Production, and Climate Action.
The SD-GEO provides the market with a standardised contract that streamlines cookstove-credit transactions from the Verra Registry and Gold Standard registry, without the need to evaluate the vast universe of individual projects. Like the GEO suite, SD-GEO contracts are traded on the CBL exchange and provide liquidity, transparent price discovery, and a reliable benchmark for a key segment of voluntary carbon markets.Learn More
Australian Carbon Credit Units
Xpansiv’s Australian Carbon Credit Unit (ACCU) trading platform enables live, on-screen trading of generic and project-specific ACCUs as well as facilitation of over-the-counter transactions.
CBL Markets (Australia) Pty Ltd holds an Australian Financial Services Licence (Licence No: 536825) which authorises it to carry on a financial services business to make a market in Australian Carbon Credit Units to wholesale clients.
Xpansiv’s CBL spot trading platform provides efficient execution, transparent price discovery, robust liquidity formation, and reliable post-trade mechanisms, typically found in larger, long-established financial and commodity markets.
CBL’s ACCUs trade on the world’s leading spot trading platform for environmental commodities where hundreds of Australian and global participants trade. ACCUs trade alongside other compliance markets including California Carbon, the Regional Greenhouse Gas Initiative and Renewable Energy Certificates (RECs) as well as regional and global voluntary markets.LEARN MORE
Joining CBL is easy. Simply read the operating rules and procedures and complete the application form. After submitting your application, provide your supporting documentation and we will establish CBL product and cash accounts, and provide you with access to the exchange.Get Started
CBL Auctions is an electronic auction service that streamlines the process of marketing and selling carbon credits, and helps project developers maximize returns. Participants connect to the largest carbon network in the world comprised of thousands of CBL customers, focus on predetermined liquidity events, and capture and report auction data to improve price discovery.
Leveraging CBL’s proven infrastructure for credits and payment transfers, CBL Auctions lets participants choose from a variety of auction types. We make it easy to customize your delivery terms and products, or you can use standardized CBL instruments to simplify the process.LEARN MORE
Please contact us to find out more about Xpansiv’s platform and services. We look forward to speaking with you!Contact Us