JOHANNESBURG, NEW YORK, LONDON, SYDNEY: 12 October 2023 – The Johannesburg Stock Exchange (JSE) is proud to launch a new carbon market in collaboration Xpansiv, the premier infrastructure provider for global environmental markets under a separate legal entity called JSE Ventures. This groundbreaking sustainability initiative will allow local participants to buy or sell carbon credits and renewable energy certificates that are held in either local or global registries.
Customers will be able to advance their sustainability goals as they will have full access to the functionality of the global Xpansiv platform for spot trading, auctions, or requests for quotes for both carbon offsets and renewable energy certificates.
According to the Atlantic Council, voluntary carbon markets increased four times from 2020 to 2022 surpassing two billion dollars in value – and African credits have seen an average growth of 36% on average over the last five years. *
"There is a heightened global focus on carbon markets and we saw this as an opportunity to bring an innovative solution to our market participants while positioning South Africa as a significant contributor to decarbonisation," says Leila Fourie, JSE Group CEO.
“An exciting aspect of operating the global environmental markets infrastructure is partnering with leaders like JSE to enable new marketplaces to scale the energy transition and efficiently support climate finance,” said John Melby, CEO, Xpansiv. “We look forward to working with the exceptional JSE team to promptly deliver a world-class carbon and renewable energy marketplace in Africa and to enabling new regional products and initiatives to thrive as the continent steps up its global climate ambition.”
Formed in 2016, Xpansiv is a premier provider of environmental market technology including registry infrastructure, market data, and portfolio management platforms.
South Africa is the twelfth highest emitter of carbon globally and has an increasing need for access and supply of carbon credits. A South African voluntary carbon market will accelerate the creation of carbon offset projects, help meet the demand for credits by emitters seeking to offset their emissions, increase investment interest in the country, and contribute meaningfully to helping grow the economy and improve sustainability practices.
“This initiative is suited to market participants that have identified clear sustainability commitments, particularly towards net-zero. We look forward to engaging with them on the platform's range of environmental offerings," adds Fourie.
“Our aim is to promote transparency in an evolving landscape for environmental investment. We hope to do this while expediting potential funding mechanisms for these projects" concludes Fourie.
ABOUT THE JSE
The Johannesburg Stock Exchange (JSE) has a well-established history of operating as a marketplace for trading financial products. It is a pioneering, globally connected exchange group that enables inclusive economic growth through trusted, world-class, socially responsible products, and services for the investor of the future. It offers secure and efficient primary and secondary capital markets across a diverse range of securities, spanning equities, derivatives, and debt markets. It prides itself on being the market of choice for local and international investors looking to gain exposure to leading capital markets on the African continent.
The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalisation, and is the largest stock exchange in Africa, having been in operation for 135 years. As a leading global exchange, the JSE co-creates unlocks value & makes real connections happen.
Xpansiv operates the market infrastructure to rapidly scale the world’s energy transition. The company runs the largest spot exchange for environmental commodities, including carbon credits and renewable energy certificates. It is the premier provider of registry infrastructure for energy, power, and environmental markets. It also operates the largest independent platform for managing and selling solar renewable energy credits in North America.
Xpansiv is a leading provider of transaction and advisory services in global carbon, renewable energy, and energy transition markets through its Carbon Financial Services and Evolution Markets units. It also runs the leading multi-registry, multi-asset environmental portfolio management system and market data service.
Xpansiv’s rules-based markets and infrastructure enable stakeholders to deliver transparent, credible, and auditable environmental claims to address the growing global demand for assurance and accountability on climate action and sustainability performance.
For more information, please visit Xpansiv.com.
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Xpansiv media contacts:
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Cognito Media for Xpansiv, [email protected]