Xpansiv, the leading market infrastructure provider for the global energy transition, undertook a formal market consultation to support the tracking, management and trading of instruments aligned with the Integrity Council for the Voluntary Carbon Markets’ (ICVCM) Core Carbon Principles (CCP).
The consultation will enable Xpansiv to develop a robust program to support the trading of CCP-eligible credits, and to design an effective, standardized spot market contract, or contracts, to support the trading of ICVCM CCPs when the first approved credits become available, likely early next year. The market consultation formally started on Nov 28th at 9 am (EST) and will run through January 31, 2024.
It will extend to all VCM stakeholder groups, including registries, partners, and direct market participants from corporate sustainability teams, project developers, trading houses, intermediaries, banks, and asset managers. The consultation will cover logistical considerations, including how to best support straight-through-processing of CCP-eligible credits from registries through Xpansiv’s portfolio management system, and its CBL spot exchange for trading and post-trade settlement and delivery.
“In our roles as an infrastructure provider for the energy transition and market operator, our primary responsibility is to ensure market integrity, which will need to go hand in hand with the important work that ICVCM is doing to ensure environmental integrity… Given our many business lines that support the carbon market ecosystem and universe of 700 plus market participants, we are uniquely placed to aggregate input from active traders, users of registry services, and brokerage customers. We’ve been engaged with the ICVCM since its early days and support its important work, which is significant to the future development of the global carbon market,” said Henrik Hasselknippe, Xpansiv’s Chief Operating Officer.