First Trade of Puro.earth Carbon Removal Certificates Matched on Xpansiv’s CBL Spot Exchange
First Trade of Puro.earth Carbon Removal Certificates Matched on Xpansiv’s CBL Spot Exchange
NEW YORK, LONDON, SYDNEY — Xpansiv, the leading market infrastructure provider for the global energy transition, today announced the first Puro.earth CO2 Removal Certificates (CORCs) trade matched on the CBL spot exchange. The transaction was for 1,500 vintage 2022 Puro.earth CORCs from the Ekovilla net-negative carbon cellulose insulation project in Finland.
The CORCs were offered on the exchange by project developer EcoUp Oyj, a Finnish supplier of materials, services, and technology to decarbonize the construction industry. The credits were bought by thyssenkrupp Materials Trading GmbH, a global trading and services company, which established a Voluntary Carbon Credit Desk in 2023.
The CEO of thyssenkrupp Materials Trading, Wolfgang Schnittker, stated: “We are very happy to be the first company to trade CORCS on Xpansiv. We see the need for more technical removal credits to take care of our customers’ needs to contribute to the UN’s climate targets.”
“We are pleased to be the first seller of our engineered net-negative cellulose insulation CORCs on CBL,” said Matti Kaski, CEO, EcoUp Oyj. “CBL’s spot exchange enables us to price and sell our carbon removal credits with greater pre-trade transparency and broader market access, which supports a more robust and effective selling process.”
Trading CORCs on CBL’s spot exchange provides benefits of transparent price discovery, equal market access by all participants, the ability to trade with hundreds of counterparties without bilateral agreements as well as prompt settlement and minimized counterparty credit and performance risks. CBL’s global market share of exchange-traded and settled carbon credits and removals has exceeded 90% for each of the last three years.
“We congratulate thyssenkrupp and EcoUp Oyj on the first trade of Puro.earth CORCs on our spot exchange,” said John Melby, CEO, Xpansiv. “Carbon removals are a vital tool that will play an important role in decarbonizing the planet. We are pleased to list CORCs alongside hundreds of carbon and renewable energy credits traded by leading companies to advance and accelerate the global energy transition.”