LONDON & CHICAGO
The Voluntary Climate Marketplace (TVCM), a venue for trading global carbon offsets and other bespoke environmental attributes, has announced it will launch on March 25, 2022.
TVCM, operated by IncubEx and utilizing Trayport’s Joule platform, provides a best-in-class marketplace to meet the needs of global buyers and sellers of carbon offsets and other renewable attributes.
Joule is a leading global electronic trading solution for energy markets, offering an independent platform with price transparency, key project information, flexible trading and interfaces to streamline back office processes.
TVCM will feature live bids and offers on a broad set of carbon offsets including: Gold Standard, Verified Carbon Standard (Verra), Climate Action Reserve and American Carbon Registry, each of which is recognized by The International Carbon Reduction and Offset Alliance (ICROA).
Given the scope of carbon offset projects worldwide, participants will be able to search and select the type of offset they would like to purchase, specify the issuance year of each, choose the volume of credits needed and compare prices of similar offsets.
TVCM’s real-time trades are matched, confirmed with counterparties and bilaterally settled. Sellers of offsets can easily offer distinct products on TVCM and global buyers can evaluate the attributes of each offer or specify their own unique requirements.
The launch date comes after extensive development and testing, plus the first successful trade of voluntary carbon offsets on Joule in December 2021.
“The global carbon offset market must continue to expand and evolve to keep pace with corporate sustainability initiatives and net-zero targets,” said Dan Scarbrough, Founder, President & COO, IncubEx, a Chicago-based privately held company that designs and develops new financial products in global environmental, climate risk, and related commodity markets. “We believe TVCM will play a key role in bringing offsets, market access and a leading trading platform together for all market participants. We’re excited to get started with our customers.”
IncubEx is an incubator for products, services and technology solutions in environmental markets with partners and stakeholders to design and develop new financial markets, technologies and trading solutions in global environmental, climate risk, and related commodity markets. IncubEx serves as the operator of The Voluntary Climate Marketplace (TVCM). The company also works in conjunction with its global exchange partner, European Energy Exchange (EEX) and its U.S. subsidiary, Nodal Exchange. The IncubEx team is led by former key executives from Climate Exchange, which pioneered exchange based environmental trading and CCX, the world’s first and only voluntary, but legally binding greenhouse gas emission reduction and trading program. IncubEx, a privately held company founded in 2016 with offices in Chicago and London, is uniquely positioned to capture these opportunities globally with its partners. For more information, please visit https://theincubex.com/.
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