Xpansiv's CBL sets Q1 volume record for carbon, energy trading

Commodities trading platform Xpansiv has seen a record quarterly trading volume on its carbon and environmental markets spot exchange CBL in the first three-month period of 2021, it said April 8.

The volume surge was led by carbon transactions totaling 19.34 million mt and 1.08 million MWh of US Renewable Energy Certificates, it said in a statement.

"These volumes represent growing maturity and adoption of innovative ESG-oriented commodities by long-time market participants and an influx of new users," said Ben Stuart, Xpansiv chief commercial officer.

International carbon volumes were boosted by the exchange's new Global Emissions Offset contract – a standardized benchmark contract for the global voluntary carbon market.

The GEO transacted more than 2.84 million mt of carbon during the quarter, up 281% from Q4 2020 when it was first listed.

The growth in CBL volumes is occurring as carbon-neutral commitments by companies globally are driving a sharp increase in appetite for commodities linked to Environmental, Social and Governance (ESG) attributes, Xpansiv said.

The company launched a GEO futures contract on March 1 and also announced plans to trade a new Nature-based GEO product covering the agriculture, forestry and other land-use sector, expected to start trading in April.