Xpansiv, a dominant player in the global voluntary carbon market (VCM), has reported significant achievements in the first quarter of 2023. The exchange maintained an impressive share of the VCM above 85%, with over 50% of carbon volumes traded on its suite of CBL Global Emissions Offset or GEO standardized contracts. Xpansiv’s CME Futures contracts performance for both GEO and N-GEO contracts continues to grow.
The exchange’s product portfolio also demonstrated diversity, including transactions in renewable energy credits (REC), fuel, and water markets. Carbon credit exchange and TX services volumes were slow, while RECs remained steady. The first three months saw a slight drop in carbon credit issuances, almost 57 million tonnes, compensated by the growth in REC offsets, 72 million MWh, issued as shown by the chart.
Xpansiv also achieved a significant milestone with the formation of a spin-out of its tech platform, XHub. The new subsidiary, Fiutur Information Exchange Inc., comprises digital monitoring, reporting, and verification capabilities of the leading exchange. Xpansiv will hold an equity interest in this new company.
Multiple carbon credit products were launched globally, including ACCUs in Australia, International REC (I-RECs) products, and CBL-enabled trading of EcoRegistry offsets. Xpansiv also launched the first exchange-traded California Low Carbon Fuel Standard spot contract, further expanding the company’s already expansive network.
Xpansiv’s performance in the first quarter of 2023 is a testament to its dominance in the global voluntary carbon market. The exchange’s suite of standardized contracts and diverse product portfolio has positioned it as a leader in the industry. With the launch of new carbon credit products and expansion of its network, Xpansiv is set to continue its impressive performance in the coming quarters.
