Financial products designer and developer IncubEx and TMX Group’s energy trading solutions provider Trayport, announced today the launch of The Voluntary Climate Marketplace (TVCM).

TVCM is operated by IncubEx and powered by Trayport’s energy markets trading platform, Joule. The marketplace offers carbon offset projects from five offset registries and enables participants to choose specific attributes including type, vintage, geography, size and price on a trading platform with live bids and offers. The first transaction on the market was successfully completed on March 25.

Dan Scarbrough, President & COO of IncubEx, said:

“This successful launch and first transaction on TVCM are emblematic of the interest in the global carbon offset market, which is poised to scale in the coming years. With TVCM we can expand market access to build a global venue for carbon offsets viewable alongside global environmental compliance markets which have become more interrelated.”

Demand for carbon offset projects that counteract the release of greenhouse gases, and related credits, is expected to increase significantly over the next several years, as companies and businesses increasingly launch net zero ambitions, and turn to offsets as a bridge to their own absolute emissions reduction efforts, or to balance difficult to avoid emissions. According to IncubEx, in 2021 for the first time, voluntary carbon markets topped more than $1 billion in notional value traded globally.

TVCM is open for both buyers and sellers of offsets and connects to leading offset registries, including Gold Standard, Verified Carbon Standard (Verra), Climate Action Reserve, American Carbon Registry, and WCI ARB

Peter Conroy, CEO, Trayport, said:

“Global buyers and sellers have been looking for proven trading platform for carbon offsets, which Trayport’s Joule provides. TVCM offset contracts are complementary to the extensive environmental and energy markets that are available through Joule with more than 6,100 traders worldwide using the trading screen. We’re excited to provide our platform to new and existing customers, and bring price transparency, liquidity and a streamlined back-office process to the voluntary carbon offset market.”

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