CBL exchange eyes growing share of offset trade

Exchange traded volumes rising as voluntary carbon market matures, CBL’s parent company Xpansiv tells Carbon Economist

An increasing share of trading in voluntary carbon market (VCM) offsets is migrating to exchange platforms as the market matures but the majority of deals are still executed bilaterally, according to Andy Bose, senior vice-president of market development and policy at Xpansiv, owner of the CBL exchange platform. Last year, 199 VCM market participants traded on the CBL exchange, which claims to have a 97pc share of exchange traded VCM offsets. Trading volumes on the exchange’s carbon platform in 2022 came to around 116mn t of CO₂e, up from around 10mn t in 2019, when almost all VCM trades were done bilaterally. The value of transactions on CBL in 2022 was $795mn. For context, London-based car