The carbon credit market saw significant developments in the final days of August, with the Xpansiv CBL platform at the forefront of record-breaking activity. A major highlight was the trade of 39,414 tonnes of 2023 vintage ACR CCP-approved United States Landfill Gas credits at $7.15 per metric tonne. This transaction, the largest since ICVCM’s Core Carbon Principles (CCP) methodology approval in June, underscores the increasing importance of carbon credits in today’s markets.
View from below of tall, leafy trees in a forest. AI generated picture.
Xpansiv’s platform also witnessed diverse trades from across the globe, reflecting the dynamic nature of the market. Noteworthy transactions included cookstove credits from Somalia and Rwanda and 2019 hydro credits from India and 2016 Keo Seima REDD credits from Cambodia, both trading at $2.00 per tonne. Additionally, a 100,000-tonne block of 2017 Katingan Peatland Restoration credits from Indonesia was traded over the counter at $3.25 per tonne, showcasing the varied and robust market activity.
The recently concluded Paris Olympics set new sustainability records, halving Scope 1, 2, and 3 carbon emissions compared to Rio and London. The organisers purchased 1,472,550 metric tonnes of carbon credits from 13 projects, focusing on offsets in Africa and France, including cookstoves, solar power, mangrove restoration, forestry, and clean water access.
Read more: The success of DGB Group’s Hongera cookstove project sparks national attention
In total, the CBL platform handled 107,324 carbon credits in one week, with 78,423 matched on-screen. The CBL GEO futures on CME Group also saw substantial trading, with 812,000 tonnes changing hands.
North American compliance markets mirrored this growth, with PJM REC trades on the Xpansiv platform reaching nearly $14 million in value over two weeks. Key transactions included Virginia and Pennsylvania Tier I credits, as well as Maryland solar credits, further emphasising the vital role of carbon and renewable energy credits in global decarbonisation efforts.
Read more: Dutch companies leading the charge in carbon footprint compensation
As businesses increasingly prioritise sustainability, the voluntary carbon credit market is becoming a cornerstone in global nature restoration efforts. DGB Group is ready to support this transition by offering high-quality reforestation, afforestation, and energy-efficient cookstove projects that meet the highest environmental standards. By partnering with DGB, companies can contribute to revitalising ecosystems and supporting communities while benefiting from the expanding demand for premium carbon units. This presents a powerful opportunity to drive positive change and achieve long-term sustainability goals in a growing market.
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