EEX to launch range of voluntary carbon market products

Deutsche Boerse's commodity exchange EEX will launch a range of voluntary carbon offset products to help bring transparency to the market, it said on Tuesday. Many global companies such as oil majors Shell and BP have pledged to reach net zero emissions but will need to buy or generate carbon credits to offset the emissions they are unable to cut from their operations. Carbon credits can be generated from a range of projects such as planting trees or switching to less-polluting fuels, and are currently traded in a small but growing market, often on a project-by-Project basis. “While companies first-and-foremost need to reduce their own emissions, carbon offsets are a legitimate tool, especially for hard-to-abate emissions,” EEX CEO Peter Reitz said. “In this context, robust, trustworthy and secure Voluntary Carbon Markets are instrumental to generate financial investments which are critically needed for a net-zero future,” he said. EEX said the contracts would be offered first, on June 17, through its North American platform, Nodal Exchange, and later in 2022 on its European platform. Its Verified Emission Reduction (VER) CORSIA eligible product meets standards set under the global airline industry carbon offsetting scheme called CORISA.<br/>