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The Voluntary Climate Marketplace

IncubEx and Trayport bring you best-in-class market access, transparency and trade efficiencies to the voluntary carbon offsets market – live as of March 25th, 2022.

Webinar:
The Future of the Global Carbon Credit Economy

In case you missed it, you can still tune in to the conversation! Watch the entire webinar on demand and learn from market experts Dan Scarbrough (IncubEx) and James Tansey (Klimat X) as they provide insight into the rapidly evolving voluntary carbon marketplace and address key challenges and solutions for market participants.

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    A New Platform for Voluntary Carbon Markets

    With the voluntary carbon markets being largely opaque and inefficient, The Voluntary Climate Marketplace (TVCM) operated by IncubEx aims to bring best-in-class market access, transparent pricing and a more efficient trading process to the growing base of global stakeholders looking to achieve net-zero commitments and those generating offsets from carbon reduction projects.

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    Contact IncubEx to learn more about The Voluntary Climate Marketplace.

    Contact IncubEx

    Digital Access to Carbon Offsets

    The digital trading platform – Joule – is available as of March 25th, 2022 to trade voluntary carbon offsets on The Voluntary Climate Marketplace (TVCM). This innovative marketplace will enable participants to place bids and offers on a live market. TVCM, through Joule, supports the trading of standards recommended by The International Carbon Reduction and Offset Alliance (ICROA).

    Streamlined Trading

    Offsets will be tradable in a hybrid way, whereby transactions take place through Joule with the final deal execution taking place through bilateral contracts. The TVCM streamlined contracting process simplifies the physical settlement and payment, reducing time and cost to transact. Additional details are forthcoming on this process.

    Best-In-Class Technology with Unrivaled Market Experience

    Trayport and IncubEx are working together to power and operate The Voluntary Climate Marketplace, an electronic platform for trading Voluntary Carbon Offsets. Trayport is a leading trade execution platform in global energy markets. IncubEx has an unrivaled domain expertise and experience in establishing and growing environmental markets globally, including voluntary carbon. Many of the IncubEx team developed the world’s first and only voluntary, legally binding greenhouse gas reduction and trading program at Chicago Climate Exchange (CCX) nearly 20 years ago. Together, this collaboration combines these experiences to bring a new, innovative solution to voluntary carbon markets.

    FAQs

    What types of carbon credits are eligible to be listed?

    Contracts are offered based on leading voluntary standards including: Gold Standard, Verified Carbon Standard, Climate Action Reserve, American Carbon Registry, and WCI ARB. These registries are recognized by the International Carbon Reduction and Offset Alliance (ICROA). Projects under various registries range from renewable energy such as wind, solar and hydro to forestry and avoiding deforestation and others.

    How do you trade these markets using the platform?
    TVCM is a hybrid market, whereby transactions take place via the Joule platform with final deal execution typically taking place via bilateral contracts. The TVCM streamlined contracting process simplifies the physical settlement and payment, reducing time and cost to transact. Additional details are forthcoming on this process.
    What protections are in place for market participants?
    Voluntary carbon credits offered on TVCM are from established and verified standards and protocols. The transparent market data pertaining to these bespoke projects allow participants to make more well-informed decisions when transacting in the voluntary carbon markets.
    What are compliance carbon markets?
    Compliance carbon markets are established and operated by states, countries and regions. They mandate various compliance entities under the respected programs to reduce their emissions, using a market mechanism commonly referred to as a cap-and-trade structure. Under this framework, carbon allowances are “capped” each year and compliance entities are required to reduce their emissions over time. Any compliance entity that is not able to fulfill their carbon reduction target are able to buy allowances if they are over their allotted levels. Companies that reduce emissions through innovation and efficiencies can sell those allowances. The most mature and established compliance markets are the EU Emissions Trading Scheme (EU ETS), Western Climate Initiative (WCI) which includes the California and Quebec markets and the Regional Greenhouse Gas Initiative (RGGI). Each of these markets can be traded via regulated futures exchanges such as Nodal Exchange for North American markets and EEX for European carbon. These contracts are NOT offered on TVCM but are tradeable through Joule.

    “This collaboration is focused on increasing market access, transparency and execution efficiencies in more bespoke off-exchange voluntary carbon offset credits and other environmental attributes alongside more liquid, standardised exchange-traded environmental commodities. The IncubEx team has deep-rooted experience in pioneering voluntary carbon markets at Chicago Climate Exchange (CCX) and this initiative is in direct response to voids and opportunities expressed to us by our longstanding network of environmental market customers.”

    – Michael MacGregor, CEO of IncubEx

    “We are excited to be working with IncubEx, which will operate a digitised marketplace, with Trayport’s dedicated front-end screen being used for trading OTC, spot and forward voluntary carbon offsets. This collaboration aims to bring transparency, liquidity and greater standardisation to an otherwise opaque marketplace. In doing so, it will greatly improve transactional efficiency and open up the market to a wider array of market participants including a growing number of corporates and sovereigns who have made net-zero commitments.”

    – Peter Conroy, President of Trayport

    A Broad Range of Offsets

    Through TVCM, leading voluntary carbon Standards are available to trade electronically. Voluntary carbon markets use several established, respected and proven registries that apply a set of criteria to various projects. Each is verified by a third-party to ensure that emissions reductions are indeed occurring and accurate. This provides credibility for each carbon offset offered. These include:

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    Gold Standard

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    Verified Carbon Standard

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    WCI ARB

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    Climate Action Reserve

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    American Carbon Registry

    A Trading Screen for Every Market Participant

    Voluntary carbon offsets are based on verified projects that allow carbon emitters to offset “unavoidable” emissions by purchasing credits from projects that remove or reduce greenhouse gas emissions. These projects vary widely in design and purpose, and largely occur outside a regulatory or mandated policy.

    TVCM allows traders, brokers, businesses, and developers to access and electronically trade voluntary carbon offsets through Trayport’s Joule platform utilizing an efficient matching and contracting structure.