Xpansiv CBL to Launch First ICVCM CCP® Standardized Contracts on July 23

Source: www.gulfoilandgas.com 7/17/2024, Location: North America

Xpansiv’s CBL spot exchange will launch trading of a new set of standardized contracts aligned with The Integrity Council for the Voluntary Carbon Market’s (ICVCM) Core Carbon Principles (CCP®) on July 23. The new registry-specific Global Emissions Offset™ (GEO®) contracts will enable buyers to take delivery of CCP-approved credits from the ACR, Climate Action Reserve (CAR), and Verra (VCS) registries, respectively.

CCP-labelled carbon credits are the result of the ICVCM’s independent assessment process, which identifies the carbon crediting programs and methodologies that meet the high-integrity CCP criteria, including the CCPs on additionality, quantification of emission reductions and removals, permanence and ensuring positive social and environmental impacts.

“We are delighted that Xpansiv has launched the first CCP-labelled standardized contracts,” said Amy Merrill, CEO, ICVCM. “The Core Carbon Principles label is an identifiable, consistent, global high integrity quality mark for carbon credits. As CCP-labelled carbon credits start to become available on carbon exchanges, buyers will be increasingly able to use the CCP label to choose high-integrity carbon credits and we can continue to build confidence in this important tool for climate action and climate finance. With this important milestone, Xpansiv has advanced the collective journey to scaling voluntary carbon markets to help achieve private climate finance flows and climate action at scale.”

Credits from ICVCM CCP-approved programs and methodologies are deliverable into the respective registry-specific GEO contract. As additional methodologies are approved, the corresponding credits will be deliverable into the contracts automatically once they are tagged in the registry.

“We support the ICVCM’s efforts to bring greater clarity and a recognized set of Core Carbon Principles to enable VCM participants to identify high-integrity credits,” said John Melby, Chief Executive Officer, Xpansiv. “We believe our new CCP GEO contracts will provide transparent price discovery and enhanced liquidity formation to this important new market segment.”

The new CCP standardized instruments will enable market participants to trade on CBL’s fully transparent spot exchange with hundreds of active VCM buyers and sellers. Exchange transactions are settled on a same-day (T+0) cycle. OTC trades can also be settled through CBL’s post-trade mechanism, which is integrated with leading carbon registries.

The new CCP contracts will be settled daily to the Platts price assessments from S&P Global Commodity Insights, the leading global price reporting agency in the carbon markets. Platts currently provides daily settlement values for the existing CBL GEO®, N-GEO®, C-GEO®, and SD-GEO® standardized instruments.

In addition to listing registry-specific CCP standardized contracts, Xpansiv is developing a new, multi-registry standardized CCP GEO contract. The contract is being designed in an extensive market consultation, which commenced in the first quarter of 2024.

The ICVCM developed its CCPs to establish a threshold for high-integrity project credits. The first set of seven qualifying CCP methodologies were announced on June 6.


United States >>  12/3/2024 - DuPont Water Solutions, using the World Business Council for Sustainable Development (WBCSD) Avoided Emissions Guidance, has shared an early example o...
Germany >>  12/2/2024 - Adient, Jaguar Land Rover (JLR) and Dow have worked together to produce seat foam for the luxury car manufacturer's vehicles using closed-loop recycle...

Norway >>  12/2/2024 - Capsol Technologies ASA has been awarded a feasibility study for the CapsolEoP® (end-of-pipe) carbon capture solution by a global energy company at on...
Norway >>  12/2/2024 - Aker Carbon Capture ASA (ACC ASA) has reached a significant milestone with the mechanical completion of the world's first full-scale carbon capture fa...

Norway >>  12/2/2024 - The on-schedule mechanical completion of Brevik CCS marks a significant milestone in the journey to full operation of the CO2 value chain in Norway
Norway >>  12/2/2024 - SLB Capturi has reached a significant milestone of mechanical completion of the carbon capture plant at Heidelberg Materials’ cement facility in Brevi...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.