On Friday, leading derivatives marketplace CME Group announced the successful launch of its new CBL Australian Carbon Credit Unit (ACCU) futures.
CME Group Launches New Australian Carbon Credit Futures
The new CBL Australian Carbon Credit Unit (ACCU) futures sawtotal of five contracts traded as a block between Freepoint Commodities and Mercuria on October 14, 2024, revealed CME.
The new contract is designed to help clients manage the risks associated with carbon reduction strategies.
“We are pleased to see industry interest and support for our new CBL ACCU futures, which are the latest product we have launched with Xpansiv to help clients manage the risks associated with carbon reduction strategies,” said Peter Keavey, Global Head of Energy and Environmental Products at CME Group.
“Demand for Australian carbon credits is increasing on both a compliance and voluntary basis. ACCU futures will not only provide access to the Australian market but will also help establish a forward curve, allowing for more price discovery in this rapidly evolving space.”
The CBL ACCU futures are physically-settled and based on Xpansiv’s underlying ACCU spot market.
The contract allows for the delivery of Australian carbon credits on the Australian National Registry of Emissions Units (ANREU).
The launch of the CBL ACCU futures comes as the global focus on climate change and carbon emissions continues to intensify.
