​The C-GEO contracts are set to complement the nature-based CBL ‘s standardized contract, the N-GEO, which was launched in March 2021.​ ​”C-GEO 2 is a technology-based benchmark contract that complements the nature-based N-GEO benchmark,” said Russel Karas.​ ​”Not only can these products serve as a price discovery and risk management tool for qualifying credits, but they can also be used to anchor other basis/spread markets.​”​

At the same time, he said, the C-GEO 1 contract will offer a price discovery tool for older vintages, which are still actively traded and popular with many end-users.​ ​For the time being, Karas said, the C-GEO spot contract will only reflect Verra-certified credits, similarly to the N-GEO. “Market participants favored a streamlined, single-registry approach for the new C-GEO contracts, similar to the one used with the N-GEO contract launched in April​.”