XCHG, an intelligent commodities marketplace, has announced the launch of Global Emissions Offset (GEO), trading on XCHG subsidiary CBL Markets, the company said.
The GEO is based on parameters defined by the International Civil Aviation Organization for CORSIA — the Carbon Offsetting and Reduction Scheme for International Aviation. The GEO enables the market to effectively set a price on carbon based on real-time transactions of carefully vetted offset projects.
The product represents a reliable price for carbon backed by projects that are proven to contribute to reducing emissions.
CBL developed the GEO with input from key market stakeholders, including financial institutions, trading firms, project developers, NGOs, carbon standards, industry associations, and corporations. The CORSIA-approved assets underpinning the GEO eliminate much of the cost of trading offsets, because buyers can trust that they´re purchasing offsets with proven provenance.
Xpansiv CBL Holding Group (XCHG) is a commodity marketplace built for a data-rich, resource-constrained world. XCHG company CBL provides access to the world´s energy and environmental commodity markets, facilitating the secure and seamless trading of commodities like carbon, renewable energy, water, and gas.