The company, which runs a marketplace for commodities with the consideration of environmental, social, and governance (ESG) factors, will register crude produced by Lundin Energy with the help of certification company Intertek.

“This is a critical moment of confluence between two paradigm shifts in global energy—digitization and decarbonization,” said Xpansiv CEO Joe Madden. “The energy transition will be driven by greater data transparency, so crude oil producers like Lundin Energy with improved ESG performance are rewarded with a clear price signal. The Xpansiv platform provides the financial infrastructure—from source data to market outcomes—that enables this shift in the valuation of global commodities.”