Xpansiv, a global energy transition market infrastructure provider, launched on April 19 its Australian Carbon Credit Unit (ACCU). This trading and settlement infrastructure aims to deliver improved liquidity formation, price transparency, and global connectivity to the ACCU market, and support same-day settlement.
The market’s first trading day of 19 April saw a total of eight transactions and 27,449 ACCUs traded.
The first trades signal a new era for the compliance and voluntary use of the country’s voluntary CO2 market, said Ben Stuart, President, of Transaction Services, Xpansiv.
Companies that participated in the trading that day include CBA, Corporate Carbon, Carbon Financial Services, and CO2 Australia.
A liquid and transparent CO2 market is instrumental to meeting Australia’s recently introduced, more ambitious climate targets, said Alex Toone, Executive General Manager of Commodities, Trade & Carbon at CBA.
Using the new trading platform, the leading Australian CO2 abatement project Corporate Carbon sold 5,000 ACCUs to CBA from the Batavia Savanna Burning Project.
In addition to the ACCU market, Xpansiv has previously introduced Australian Renewable Energy and Energy Efficiency Certificates, Digital Fuels™️, Water and CO2 offsets.
Expansive’s new marketplace will be available with similar markets such as California Carbon, the Regional Greenhouse Gas Initiative, and US RECs.