IncubEx, Trayport launching voluntary offset platform

Environmental markets product developer IncubEx and software company Trayport plan to launch a voluntary carbon offset trading platform next year.

The two today said they are teaming up to create the Voluntary Climate Marketplace, which will offer trading of spot and forward carbon offsets.

At its launch, expected in the first quarter of 2022, the new marketplace will initially support the trading of offsets certified by four major offset registries: Gold Standard, Verified Carbon Standard, Climate Action Reserve and American Carbon Registry.

The companies' venture joins a number of other new trading systems popping up in response to growing demand for voluntary offsets, as more and more companies around the world set up net-zero greenhouse gas (GHG) emissions goals.

But they feel they can fill a "big void" in the market by offering market access, data transparency and tools for buyers and sellers to evaluate offsets, IncubEx president Dan Scarbrough said.

Some of the data will include, along with bids and offers, specific information about the project providing the offsets, such as geography, technology type and vintage year.

"This initiative is in direct response to voids and opportunities expressed to us by our longstanding network of environmental market customers," he said.

IncubEx at this time does not plan on offering any standardized offset products, but is still evaluating the idea, Scarbrough said.

Chicago-based IncubEx will operate the marketplace, which will use London-based Trayport's Joule electronic trading platform.

By Michael Ball