This week, CME Group announced the market trading debut of [the CBL] Nature-Based Global Emissions Offset (N-GEO) futures contract. The notional equivalent of more than 1.3 million environmental offsets had traded in the first two days of trading, with participation from 10 firms, including Andurand Capital Management, Hartree Partners, Macquarie Group and commodities giant Vitol.
“This is another important milestone in the evolution of the voluntary carbon markets,” said Erik Petersson, Head of Global Carbon at Macquarie Group’s Commodities and Global Markets division. “At Macquarie, we are focused on high-quality carbon offset supply and the provision of market-leading offset solutions to our clients. This new futures product enhances our and our clients’ ability to manage price risk around the nature-based solutions portion of the market. We expect this to drive broader participation in the voluntary carbon markets as transparency and liquidity increase.”