CBL Core Global Emissions Offset Futures
Add more flexibility to how you manage climate risk with standards-driven C-GEO futures, which track offset projects across energy, renewables, and other technology-based offsets from the Verra registry. This contract complements and builds on the success of CBL GEO futures and CBL N-GEO (Nature-based) futures, creating more flexibility for industries proactively seeking to manage carbon footprints through the voluntary emissions offset marketplace.
Scale exposure using largest pool of offsets
Trading is backed by a pool of approximately 100M underlying offset credits for more opportunities to offset carbon emissions.
Manage exposure based on recommendations for the Core Carbon Principles (CCP)
CBL C-GEO futures are standardized instruments for high-quality voluntary emissions offsets that align with the initial recommendations for the Core Carbon Principles, an emerging set of transparent and consistent standards around the supply of carbon credits to be overseen by the Integrity Council for the Voluntary Carbon Markets.
Works within existing accounting frameworks
The vintage eligibility of the credits will roll forward on a yearly basis, ensuring that the deliverable credits reflect evolving projects and markets.
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|CBL Product Name||Global Emissions Offset||Nature-Based Global Emissions Offset||Core Global Emissions Offset|
|CBL Product Launch||10/5/2020||3/11/2021||1/5/2022|
|Projects||Tech-based (non-AFOLU)||Nature-based (AFOLU)||Tech-based (non-AFOLU, large hydro excluded w/ exception of Run-of-River hydro)|
|Framework Alignment||ICAO's CORSIA||Verra's VCS w/ CCB co-benefits||Aligns with the initial recommendations for the Core Carbon Principles (CCPs) set by the Taskforce on Scaling Voluntary Carbon Markets (now the IC-VCM)|
|Registries||3 (Verra, ACR, CAR)||1 (Verra)||1 (Verra)|
|Vintage Structure||Static and reflecting ICAO’s CORSIA||Rolling. On July 1, 2022, 2016-2020 will expand to 2016-2022. On July 1st 2023, 2016-2022 will roll into 2018-2023. On each following July 1st, the oldest vintage will become ineligible, and a new vintage will be added. Starting Jul 1, 2023, N-GEO and C-GEO vintages will be aligned||Rolling. On July 1 of each year, starting in 2022, the oldest vintage will become ineligible for the contract, and a new vintage will be added. Ex. On 7/1/22, the vintage range advances- 2016s will fall off and 2022s will be added. Starting Jul 1, 2023, N-GEO and C-GEO vintages will be aligned|
|Current Vintage Years (as of Q1 2022)||2016-2020 (5 years)||2016-2020 (5 years)||2016-2021 (6 years)|
|Contract Size||1,000 environmental offsets (each offset representing 1 mtCO2e)||1,000 environmental offsets (each offset representing 1 mtCO2e)||1,000 environmental offsets (each offset representing 1 mtCO2e)|
|Underlying Supply||~40 million credits||~70 million credits||~100 million credits|
Futures Commission Merchants (FCMs)
||Mike Dennis||US||(312) 604-8693|
|Emile Goulmy||EMEA||+31 (0) 623 004 521|
|Marex||Jack Velasquez||US||(212) 600-2977|
|Phillip Futures||Sales||US||(312) 319-7277|
|R.J. O'Brien||Institutional Sales||US||(312) 373-5403|
||Oscar Schaps||LATAM||(305) 925-4813|
|Dave Smoldt/Commercial Sales||US||(816) 410-5636|
|Vincent Angelico/Institutional Sales||US||(212) 549-4100|
|Straits Financial||James Wang/Derivatives Sales||APAC||+65 6697 9683|
|Susan Quek/ Derivatives Sales||APAC||+65 6697 9924|
CME Direct trading grids
Download the C-GEO futures trading grids
- Right click on the links below
- Save the files as an .XML on your computer
- In CME Direct, select import view in the main menu
- Import the grid into CME Direct
- Under Menu, click on Save Window Layout
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