ENERGY

CBL Nature-Based Global Emissions Offset (N-GEO) futures

Manage climate risk, add price discovery, and proactively pursue ESG initiatives with a new voluntary emissions offset contract.

Globex code NGO

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Add flexibility for addressing emissions-reduction targets

CBL Nature-Based Global Emissions Offset (N-GEO) futures offer firms a simple way to meet emissions-reduction targets using high-quality, nature-based offsets sourced exclusively from agriculture, forestry, and other land use (AFOLU) projects. This contract builds on the success of CBL GEO futures to offer another risk management tool for addressing carbon footprints in the growing voluntary emissions offset marketplace.

Key benefits and features

Manage emissions-related risk efficiently

Pursue carbon-neutral goals with a physically settled, exchange-traded, nature-based offsets tool, featuring CBL’s seamless physical offset delivery process.

Trade offsets certified by two leading standards

Offsets meet the Verified Carbon Standard and Verra Registry’s stringent Climate Community and Biodiversity Standard on climate change, local community/smallholder support, and biodiversity.

Add the price discovery of futures markets

Standardized, transparent markets foster true price discovery, enabling fair market valuations of carbon offsets via around the clock, globally accessible markets.

Get seamless delivery through CBL

Deliveries are facilitated through CBL, a global leader in spot energy and environmental markets that facilitates the secure and seamless trading of physical commodities such as carbon, renewable energy, water, and gas.  In addition to providing efficient delivery of offset credits, CBL also offers help for onboarding with approved registries.

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Related resources

N-GEO futures - A natural solution

N-GEO futures bring more options for market participants to access standardized and defensible voluntary emissions offset credits through the spot and cleared futures market.

Finding a Solution for Global Carbon Offsets Pricing

OpenMarkets article discussing the shift to a low-carbon economy and near-term reduction strategies that leverage emissions offset projects that may help be part of the solution.

Going Green with Carbon-Neutral LNG

Read how carbon-neutral liquefied natural gas (LNG) is being used to offset carbon emissions from the LNG supply chain.

Carbon Convergence Across the GEO-Sphere

Learn how the GEO futures contract provides convergence between vetted offset registries and project types to establish a much-needed global emissions offset benchmark.

Standardization of Voluntary Emissions Markets Webinar

Watch Russell Karas, Sr. Director of Energy Products, discuss the voluntary emissions markets: what they are, how they operate, and the futures contracts CME Group offers to support meeting emissions reduction targets.

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View contract specifications

View a snapshot of key contract details on the CBL N-GEO futures coming to CME Group.

Contract

CBL Nature-Based Global Emissions Offset Futures

Commodity code

NGO

Rulebook chapter

1258

Settlement type

Physical

Settlement registries

Verified Carbon Standard (VCS)

Deliverable offsets

VCS offsets with Climate, Community, and Biodiversity (CCB) Certification

Contract size

1,000 Environmental Offsets

Listing schedule

Monthly contracts listed for the current year and the next three calendar years. List monthly contracts for a new calendar year following the termination of the December contract of the current year.

Minimum price fluctuation

$0.01 per environmental offset

Value per tick

$10.00

First listed month

September 2021

Block trade minimum threshold

10 contracts – subject to a minimum 15-minute reporting window

Termination of trading

Trading terminates three business days prior to the last business day of the contract month.

CME Globex /CME ClearPort trading hours

 

Sunday - Friday 6:00 p.m. - 5:00 p.m. Eastern Time/ET (5:00 p.m. - 4:00 p.m. Central Time/CT) with a 60-minute break each day beginning at 5:00 p.m. ET (4:00 p.m. CT) 

Vendor Codes

CBL Nature-Based Global Emissions Offset Futures
Product Name CME Globex Bloomberg CQG TT Fidessa FIS Global DTN Refinitv ION (Pats & FFastFill) Itiviti (Orc & Tbricks Vela
CBL Nature-Based Global Emissions Offset Futures NGO LGOA <Comdty> NGO NGO NGO NGO QNGO ONG NGO NGO NGO

CME Direct trading grids

Download the N-GEO futures trading grids

  1. Right click on the buttons below
  2. Save the files as an .XML on your computer
  3. In CME Direct, select import view in the main menu
  4. Import the grid into CME Direct
  5. Under Menu, click on Save Window Layout

N-GEO futures

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