S&P Global Platts and Xpansiv Partner to Advance Price Transparency in Global Carbon Markets
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NEW YORK/ LONDON — S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, and Xpansiv, the global marketplace for ESG commodities, today announced an agreement to collaborate on the development and distribution of assessed daily closing prices for voluntary carbon market instruments. The agreement on international carbon accounting rules reached at COP26 provides a strong foundation to develop the collaboration.
The initiative will bring increased transparency, rigor, and integrity to the pricing of voluntary carbon market (VCM) assets, providing the market with greater confidence. It brings together Xpansiv’s expertise as the global leader in trading physical carbon offsets with Platts’ market-leading experience providing pricing transparency to the developing VCM markets.
“This partnership brings together all the necessary elements of a well-ordered market ecosystem—price transparency, liquid spot and futures markets, and robust market data,” said John Melby, Xpansiv President and Chief Operating Officer. “It will enable the carbon market to further scale to accommodate demand and provide much-needed investment in high-quality carbon offset projects.”
“The voluntary markets have the potential to play a pivotal role in helping close the gap between what governments can deliver and what the world needs to achieve in terms of overall emissions reductions,” said Saugata Saha, President, S&P Global Platts. “The value of the market is now more than $1 billion and forecast to increase fifteen-fold by 2030, according to the Taskforce on Scaling Voluntary Carbon Markets. Our suite of VCM assessments is providing increased transparency and understanding of these markets, and this partnership with Xpansiv will enable us to develop scalable opportunities as this market continues to evolve.”
Under the agreement, Xpansiv marketplace CBL—the world's largest exchange for spot-market trading of physical carbon offsets—will expand the data it makes available to Platts for the development and management of daily market price assessments. In addition, Platts and Xpansiv will collaborate with market participants to develop new types of price assessments and spot contracts to respond to rapidly evolving demand.
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