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Carbon markets are an important step on the journey to deliver on global net zero commitments.

S&P Global brings transparency to nascent carbon markets, enabling both voluntary and compliance markets to grow with infrastructure, price assessments, benchmarks, data and insight.

What are Carbon Markets?

Carbon markets help to facilitate progress on global net zero commitments by enabling market participants to trade carbon allowances and carbon offsets via compliance and voluntary carbon markets. Carbon markets are expected to grow rapidly in the short term creating market opportunities and mobilizing investment, and diminish in the longer term as countries close in on net zero emissions.




"Putting a price on CO2 is the surest way to drive the energy transition, with a growing number of countries adopting emissions trading systems, carbon taxes or a combination of both."

S&P Global Commodity Insights

Atlas of Energy Transition


Accelerating carbon markets.
Creating clarity.

More established carbon markets will be increasingly connected, consistent
and liquid, providing more robust opportunities for companies and countries
to manage their transition to net zero, and more investable markets for financial institutions to manage risk-adjusted returns.

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Get ready for significant growth in carbon markets

While nascent today, carbon markets are projected to grow significantly providing important pathways for countries, corporates, and financial institutions to turn net zero commitments into net zero action plans.

Find out how we are bringing transparency to the nascent carbon markets with infrastructure, price assessments, index benchmarks, and data and insight.


  • INFRASTRUCTURE
  • PRICE ASSESSMENTS
  • INDICES
  • DATA AND INSIGHTS
SEE ALL SOLUTIONS

Discover integrated infrastructure solutions

Environmental Registry

Manage carbon, water and biodiversity credits in a centralized, financial markets-based registry system, helping to increase transparency, efficiency and scalability.

Meta-Registry

Seamlessly connect disparate markets and registry systems around the world, enabling the exchange of carbon market data and mitigating the risk of double-counting credits.

Auctions Platform

Set prices for allowances or credits via transparent market mechanisms with secure auctions technology including auction setup, participant application, bidding, price calculation, results generation, approvals and result distribution, as well as interfaces to third parties.

Our price assessments offer essential price transparency

Carbon Allowance Price Assessments

Compliance market price assessments include evaluations of over-the-counter forward prices for December European Union Allowances (EUAs) and United Kingdom Allowances (UKAs), which are financial instruments used in these two trading schemes.

Low Carbon Fuel Standard (LCFS)

These daily assessments evaluate credits being purchased by producers of petroleum and diesel from producers of ethanol, bio diesel, hydrogen and electric charging to meet their deficit shortcomings. 

California Offsets

These look at physically delivered greenhouse gas emissions offset credits that are limited to emissions-reduction projects in the U.S. and specifically to five areas: forestry, urban forestry, destruction of ozone-depleting substances and mine methane capture.

Regional Greenhouse Gas Initiative (RGGI)

These look at the cooperative effort among the states of Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, Vermont and Virginia to cap and reduce CO2 emissions from the power sector.

Voluntary Carbon Market  

These assessments cover a full range of projects that reflect bids, offers and trades as reported in either the Commodity Insights Market on Close assessment process, the brokered market or on trading and exchange instruments. The assessments reflect the individual attributes of particular projects and are segmented into avoidance and removal credits. Additional assessments are available for the International Civil Aviation Organization’s CORSIA program, plus the most competitive methane collection carbon credits.

Carbon Credit Settlements and Assessments

S&P Global Commodity Insight’s partnership with the Xpansiv spot-market exchange provides assessments of the daily and monthly settlement prices for Xpansiv’s carbon credit contracts, as well as the settlement prices for physically-delivered futures contracts.

Our indices are designed to inform price discovery and increase liquidity

The Global Carbon Index

IHS Markit, now part of S&P Global, together with Climate Finance Partners (CLIFI), launched this first-of-its-kind index that tracks the most liquid segment of the tradable carbon credit futures markets. Constituents of the index include futures contracts on European Union Allowances (EUA), UK Allowances (UKA), California Carbon Allowances (CCA) and the Regional Greenhouse Gas Initiative (RGGI), with pricing data from OPIS by IHS Markit Pricing (North American Pricing) and ICE Futures Pricing (European Pricing). The Global Carbon Index rules-based methodology is publicly disclosed and designed to be replicable.



The S&P GSCI Global Voluntary Carbon Liquidity Weighted

The S&P GSCI Global Voluntary Carbon Liquidity Weighted is designed to reflect the performance of the global voluntary carbon credit market. Index constituents are liquidity-weighted tradeable voluntary carbon credit futures contracts.

Platts CARBEX Carbon Credit Indices (powered by Viridios AI)

These six indices reflect the value of different types of voluntary carbon credits and enhance market transparency in the complex voluntary carbon credit and co-benefit markets. Co-benefits are terms attached to carbon credits that provide evidence of meeting the 17 Sustainable Development Goals (SDGs) defined by the United Nations.

The S&P GSCI Carbon Emission Allowances

The S&P GSCI Carbon Emission Allowances (EUA) is designed to measure the performance of the European Union Carbon Emission Allowances (EUA) market.

Our data and insights uncover the details behind the trends

Insights

Get the latest news coming out of global compliance and voluntary carbon markets, including specific details on the short-, medium- and long-term outlooks for the compliance markets in each region.

S&P Global Trucost Carbon Earnings at Risk Dataset

Quantify company-level exposure to current and future carbon pricing scenarios.

Find Out More on S&P Global Marketplace

Source: S&P Global Trucost. Data as at November 2020. For illustrative purposes. Data showcase is based on a high impact climate change scenario for companies listed on the S&P Global 1200 index, selected to represent a global supply chain, equity portfolio or loan book. The index covers 31 countries and approximately 70 percent of global stock market capitalization.

Case Studies

  • A Bank Commodity Trading Team Seeks Deep Intelligence on Carbon Markets

    Case Study
  • A Stock Exchange Vets Environmental Registries and Auction Platforms

    Case Study
  • A National Government’s Need for a Carbon Registry and Auction Platform

    Case Study
  • A Large Manufacturing Company Looks to Carbon Offsets to Meet its Net Zero Goals

    Case Study
  • A Bank Relies on Extensive Energy Data to Guide its Path to Net Zero

    Case Study
  • A REIT Digs Deep on Physical Climate Risks in its Portfolio

    Case Study

Discover essential intelligence


Insights

Events

Global Carbon Markets Conference

November 29-30, 2022 | 8:00 am - 3:45 pm CET | Novotel Barcelona City, Spain

Responsible management of Voluntary and Compliance Carbon markets in pursuit of net-zero goals

New for 2022, we are delighted to announce the Global Carbon Markets Conference by S&P Global Commodity Insights, set to take place on November 29-30 in Barcelona, Spain at the Novotel Barcelona City. This is a two day in person only conference with leading Carbon experts providing up-to-the-minute insights and answering key questions for the Carbon Markets in keynote presentations, fireside chats, panel discussions, interviews and unrivalled networking opportunities.

Register

Why S&P Global?

Accelerate Your Sustainability Journey

Gain unparalleled insight into critical topics like ESG performance, net zero, energy transition, sustainable financing, regulatory compliance and more.

Discover End-to-End Market Perspectives

Leverage intelligence that is tried-and-tested throughout the global value chain, applying deep knowledge of corporate sustainability assessments that scales analytics for asset owners, investment managers and banks.

Connect Your Workflows

Link sustainability data with financial data and market intelligence, and dig deep with screening tools, real time updates, data visualizations and customized dashboards.

Increase Your Productivity

Access data when and how you want it with flexible delivery options that include a leading desktop solution, APIs, data feeds and cloud access, underpinned by robust data linking, AI and machine-learning technologies.

Rely on a Deep Heritage of Innovation

Put 20+ years of experience behind your sustainability strategy, getting ahead of disclosure trends with active corporate engagement and granular data modelling, and delivering enhanced solutions recognized by numerous industry awards.

Enjoy Superior Customer Service

Know you have 24x7x365 backup and specialist assistance from ESG specialists and research analysts across our global offices.