Xpansiv to Provide Access to Universal Environmental Instrument Numbering System and dMRV Registry Infrastructure
The Company will offer key technology and intellectual property components enabling companies to identify environmental assets across their entire lifecycle.
NEW YORK, SYDNEY, LONDON — Xpansiv, the leading market infrastructure provider for the global energy transition, will offer key technology and intellectual property (IP) components that enable companies to uniquely identify environmental assets. Consistent with its record of innovation and leadership in environmental markets, the company determined that its Environmental Instrument Numbers (EINs), and digital measurement, reporting, and verification (dMRV) IP assets can provide greater utility if licensed to address key, systemic challenges currently inhibiting the energy transition.
“There is a massive, urgent need for robust technology and data protocols to ensure the trillions of dollars being invested in environmental markets are being accurately tracked, validated, and accounted for,” said John Melby, Chief Executive Officer, Xpansiv. “By extending our infrastructure to the rest of the market, companies can concentrate on meeting their commitments without worrying about the acceptance of new, unproven systems to validate and report on their claims.”
“Carbon is an important commodity of the 21st century,” said Jean Rogers, Global Head of ESG at Blackstone, which made a $400 million investment in Xpansiv in July 2022. “Xpansiv is creating the trusted infrastructure that will enable transparency and allow this critical market to scale and meet investor demand.”
The Xpansiv technology components and intellectual property cover two critical areas.
The first is a numeric reference system that Xpansiv developed to integrate registered environmental instruments across renewable energy, carbon, fuels, and other asset classes. The reference system builds on Xpansiv’s Environmental Instrument Numbers (EINs)—standardized reference numbers that Xpansiv Registry Services issues for each transferable asset upon issuance. Like Vehicle Identification Numbers used to track cars and trucks over their lifecycle, EINs enable asset financiers to uniquely identify assets across the globe, validate the performance of those assets, and allow the environmental asset owners to properly account for these in their reporting as well as being able to transact them.
For more than a decade, Xpansiv has used this system to support the issuance and management of billions of credits in carbon and renewable energy. Hundreds of companies involved in the development and trading of these types of credits are already using the EIN infrastructure as part of their day-to-day operations.
To bolster the applicability of EINs in support of the energy transition, Xpansiv will make available its Universal Project Numbers (UPNs), a reference number for any tangible energy transition asset beginning at the onset of finance, and its Permanent Retirement Number (PRN), a unique ID associated with each retired EIN for use in claims reporting.
“We developed these solutions years ago with the idea that they would, in time, become critical to the market’s evolution.” said Joe Varnas, President of Registry and Energy Solutions at Xpansiv. “Billions of assets with a UPN/EIN have transferred in our registries and portfolio management system since and it’s exciting that the moment for wider adoption has arrived.”
The second component of Xpansiv IP which will be licensed is its Standard Market and Asset Registry Template (SMART) ID for data ownership and governance to support standardized, scalable, enforceable dMRV across almost any data source or application.
The SMART ID allows multiple companies to collaborate within a single contract specification to bring a new environmental asset to market. These collaborations include the ability for different entities to be involved in the collection of data, transformation, application of standards methodologies, and delivery to market, along with oversight, in an automated and fully verifiable process. This will reduce time to market for new innovative technologies aimed at solving asset verification and delivery to market participants who utilize those technologies to manage their ESG commitments and reporting.
“At Xpansiv, we have been relentless in our pursuit of our vision to provide the market infrastructure to rapidly scale the world’s energy transition,” said Joe Madden, Executive Chairman, Xpansiv. “Our technology infrastructure functions in partnership with complementary technology and service providers throughout the markets. This is a significant step to drive interoperability supporting our partners’ growth and that of the market as a whole.”
Xpansiv provides the market infrastructure to rapidly scale the world’s energy transition. The company’s main business units include CBL, the largest spot exchange for environmental commodities, including carbon credits and renewable energy certificates; APX, the premier provider of registry infrastructure for energy, power, and environmental markets, and SRECTrade, 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. It also operates the leading multi-registry, multi-asset environmental portfolio management system and market data service. For more information, please visit Xpansiv.com