Anew Predecessor Element Markets Completes Initial Trades of CBL’s Newly Launched C-GEO Contracts
The following information was first published by Element Markets on January 7, 2022 prior to the launch of Anew.
HOUSTON, TX: Element Markets, LLC (“Element Markets” or “the Company”), announced today that the Company’s carbon desk completed a first trade of CBL’s newly launched Core Global Emissions Offset (“C-GEO”) contracts, making it among the initial purchasers of credits on the new platform. CBL is the largest spot exchange for environmental commodities such as carbon, and is a business unit of Xpansiv, a global marketplace for ESG-inclusive commodities. Element Markets purchased C-GEO-2 contracts, which cover 2016-2021 vintage energy, renewables, and other technology-based offsets registered through Verra and aligned with the Core Carbon Principles established by the Integrity Council for Voluntary Carbon Markets.
John McDougal, Vice President of Environmental Products for Element Markets, remarked, “We congratulate CBL and Xpansiv for this innovative offering and are excited to be among the first to participate on this new platform that represents a step-change improvement in terms of access and liquidity to the voluntary carbon markets. We value our ongoing relationship and our shared responsibility as market stewards for these important certified environmental commodities as carbon markets scale up to meet accelerating demand in support of global decarbonization.”
Element Markets maintains a diversified, high-quality carbon offset project portfolio, and to date has transacted over 60 million carbon tonnes across compliance and voluntary markets on behalf of Fortune 500 companies, universities, and other public and private institutions. The Company is a leading provider of greenhouse gas reductions within the United States through renewable natural gas and carbon offsets.
“We’re pleased to see the market respond rapidly to the C-GEO—the latest evolution of our GEO product suite designed to help companies like Element Markets access high quality carbon credits on a transparent platform,” said Xpansiv Chief Commercial Officer Ben Stuart. “Along with the GEO and N-GEO, the C-GEO will enable greater price discovery and more efficient execution, proving the benefits of standardized benchmarks in burgeoning voluntary carbon markets.”