"More companies are relying on nature-based offsets as part of their overall climate strategies as the move to net-zero emissions continues to accelerate," said
N-GEO futures were jointly developed with Xpansiv market CBL, a leader in spot energy and environmental markets. Xpansiv launched the Nature-Based Global Emissions Offset (N-GEO) spot contract earlier this year, which is based on eligible voluntary offsets from Agriculture, Forestry, and Other Land Use (AFOLU) projects with additional Climate, Community, and Biodiversity (CCB) accreditation.
"Following the rapid market adoption of the GEO, we launched the N-GEO in response to rising demand for nature-based solutions," said Xpansiv President and COO
A variety of solutions have emerged to help meet net-zero targets, including projects that protect or restore natural ecosystems, which remove greenhouse gases from the atmosphere. The purchase of nature-based voluntary offsets allows businesses to finance natural climate solutions while transitioning to more sustainable business practices.
The Nature-Based GEO futures will allow for delivery of eligible voluntary offset credits and will be listed by and subject to the rules of NYMEX. For more information and contract specifications, please visit www.cmegroup.com/n-geo.