CBL, which started life in 2009 in the voluntary carbon market as Carbon Trading Exchange before re-branding as CBL last July with the launch of a new tech platform, announced a new strategic partnership with US environmental and energy infrastructure firm APX yesterday.

 

Yesterday's announcement follows a record trading month for CBL Markets in December with more than 2.6 million tonnes of offsets transacted through the exchange.

 

CBL enables market participants to spot trade multiple environmental commodities including emissions allowances for the California Cap-and-Trade Program and Regional Greenhouse Gas Initiative (RGGI). 

 

The company will connect into the APX's Environmental Management Account and associated REC registries to provide spot REC contracts across all major programs.

 

CBL managing director - Australia Ben Stuart told Energy News that a local version is due in a couple of months, with more policy certainty now available around the Renewable Energy Target after two years of uncertainty under the Abbott government.

 

"North America and Australia are our two key markets, so getting more certainty in the renewable energy markets and policies are a big reason to push on and add those products to our screen in 2017," Stuart said.

 

"Voluntary carbon products have always been part of our core value proposition, and now market participants can trade these products alongside other Australian and North American environmental commodities on one screen.

 

"To relaunch these products with a record trading month is an exciting milestone for the team and we look forward to further expanding our offering this year."

 

The company's North American managing director, Nathan Rockliff, said that by connecting CBL to APX's infrastructure, participants and brokers would be able to access spot REC products efficiently and cost-effectively, via enhanced price discovery and continuous trading contracts.