The volume of carbon offsets traded through Xpansiv CBL Markets grew 288% in 2021 to reach a record 121.5 tonnes CO2e… making it the leading platform for voluntary credits. There were 150 market participants, ranging from corporate sustainability managers, project developers, trading firms, banks and brokers, an increase of 131% on the year.

CBL achieved 36% market share based on volume and 41% based on notional value. The exchange also said its Global Emissions Offset (GEO) and Nature-based Global Emissions Offset (N-GEO) spot contracts, “the first benchmark instruments for the voluntary carbon market”, saw 16 million tonnes of trade during the year, or 7.6% of all volumes.