Trayport, IncubEx to launch climate marketplace

Canadian financial services company TMX announced on November 8 that its subsidiary Trayport had teamed up with Chicago-based environmental market developer IncubEx to launch a voluntary climate marketplace and an electronic platform for trading voluntary carbon offsets.

The voluntary climate marketplace, operated by IncubEx, will offer "best-in-class market access to trade voluntary carbon offsets to the growing base of stakeholders looking to achieve net-zero commitments around the world," the companies said. The offsets will be tradable through Trayport's Joule platform.

"This collaboration aims to bring transparency, liquidity and greater standardisation to an otherwise opaque marketplace," Trayport president Peter Conroy said. "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."

The marketplace is due to be launched in the first quarter of 2022, initially supporting the trade of Gold Standard, Verified Carbon Standard, Climate Action Reserve and American Carbon Registry offsets.