Xpansiv Spot Exchange CBL Sets 2023 Daily Volume Record of 2.1 Million Tons, Crosses 300 Million Total Since 2020
- Heavy year-end corporate purchases drive record activity
- Coincides with scheduled final day of COP28 climate conference
NEW YORK, LONDON, SYDNEY — Xpansiv, the leading market infrastructure provider for the global energy transition, today recorded the highest daily trading volume of the year as corporate carbon credits purchases propelled CBL spot exchange volume to 2.13 million tons.
“This year was marked by consistent purchases of carbon offsets by experienced companies executing robust, seasoned energy transition, net-zero, and sustainability programs,” said Ben Stuart, Chief Commercial Officer, Xpansiv. “We appreciate the trust these companies place in our team and infrastructure, which makes CBL the premier global venue where business gets done.”
The year’s record volume day comes during the traditionally busy fourth quarter, when companies buy credits to meet year-end sustainability goals. The current demand is being driven, in part, by new reporting requirements set to be implemented next year by regulators in the U.S., Europe, Australia, and California. The requirements are designed to enhance transparency around corporate sustainability activities, including the use of carbon credits.
Today CBL also crossed the 300-million-ton volume threshold since 2020. CBL’s global share of spot, exchange-traded carbon offsets exceeded 95% in 2020-2022 and it is on track to claim a similarly strong share this year.
The daily record capped a stretch of high trading activity during the UN’s annual COP event. Since the event’s 30th November start, CBL carbon volumes totalled 4.9 million tons, a level not seen since the first half of the year.
CBL’s all-time-record day was 2 March 2021 when 8.63 million tons traded on the exchange.
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Xpansiv operates the market infrastructure to rapidly scale the world’s energy transition. The company runs the largest spot exchange for environmental commodities, including carbon credits and renewable energy certificates. It is the premier provider of registry infrastructure for energy, power, and environmental markets. It also operates the largest independent platform for managing and selling solar renewable energy credits in North America.
Xpansiv is a leading provider of transaction and advisory services in global carbon, renewable energy, and energy transition markets through its Carbon Financial Services and Evolution Markets units. It also operates the leading multi-registry, multi-asset environmental portfolio management system and market data service.
Xpansiv’s rules-based markets and infrastructure enable stakeholders to deliver transparent, credible, and auditable environmental claims to address the growing global demand for assurance and accountability on climate action and sustainability performance.
For more information, please visit Xpansiv.com.