Energy and commodities markets information, benchmark and analytics provider S&P Global Platts and ESG-focused commodities marketplace provider Xpansiv announced today the launch of a new partnership aimed at advancing transparency in the global carbon markets space. Under the new collaboration, the companies will work together on the development and distribution of assessed daily closing prices for voluntary carbon market (VCM) instruments.

Saugata Saha, President, S&P Global Platts, said: “The voluntary markets have the potential to play a pivotal role in helping close the gap between what governments can deliver and what the world needs to achieve in terms of overall emissions reductions. The value of the market is now more than $1 billion and forecast to increase fifteen-fold by 2030, according to the Taskforce on Scaling Voluntary Carbon Markets. Our suite of VCM assessments is providing increased transparency and understanding of these markets, and this partnership with Xpansiv will enable us to develop scalable opportunities as this market continues to evolve.”