The GEO was developed by Xpansiv, an ESG related international commodities market operator offering physical trading on its CBL exchange. CBL is the world’s largest voluntary credit exchange.

[The CME’s] March listing was for Global Emissions Offset (GEO) futures, a product consisting of credits that meet the criteria of CORSIA, the aviation industry’s emissions reduction scheme, saving companies that want credits from having to scrutinize the details of individual emission reduction projects.