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

Highlights

Carbon transactions total 19.34 million mt

'Influx of new users' attracted to ESG commodities

Corporate carbon-neutral commitments drive demand

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.

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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.