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CORSIA CP1 Market Update

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CORSIA CP1 Market Update

IATA ACE, Xpansiv CBL to Hold CORSIA EEU Procurement Event for The DelAgua Improved Cookstove project, EEU and GEO CORSIA CP1 Standardized Contract Gaining activity on CBL, IATA ACE  

  • Latest EEU procurement event will offer one million DelAgua Rwanda Improved Cookstove project credits in a procurement event to run from March 2 to March 27. 
  • Procurement events are facilitated through the IATA Aviation Carbon Exchange (ACE) operated by IATA and Xpansiv CBL.  
  • Xpansiv CBL supports live trading of project-specific EEUs and its CBL CORSIA GEO-CP1 standardized contract. Firm offers for more than 250,000 tons of EEUs are typically available on the platform. Nearly 100,000 EEUs have traded on CBL year-to-date, excluding airline procurement event volumes.  
Q1 2026 CORSIA EEU Procurement Event 

IATA recently announced the Q1 2026 CORSIA EEU Procurement Event, which will run from March 2 to March 27, 2026. The procurement event will allow airlines to purchase a total of one million eligible emissions units from the DelAgua Rwanda Improved Cookstove Group Projects.  

Xpansiv CBL CORSIA Trading, Portfolio Management, and Data Solutions  

As we see CORSIA EEU interest growing across airlines, trading houses, and intermediaries on CBL and its partner, IATA Aviation Carbon Exchange, we wanted to highlight some of the key ways Xpansiv CBL facilitates and streamlines EEU transaction, portfolio management, and retirements. 

Xpansiv’s trading, portfolio management, and data solutions streamline CORSIA market access and provide a range of flexible channels to procure and retire CORSIA Eligible Emissions Units (EEUs), all supported by an integrated technology solution, transparent trading venues, and robust transaction data.  

  • Flexible Execution via Multiple Venues:  
    • Transparent EEU Trading on Firm Bids/Offers:  Xpansiv’s CBL spot exchange lists project specific EEUs as well as our CBL GEO CORSIA CP1 standardized contract (see trading screen images below). Bids and offers on CBL are firm and executable, with cash and EEUs behind every order.  
    • CBL’s live CORSIA order book is available on partner platforms, including IATA ACE, making all CBL bids and offers fully visible to the ACE airline community.
CBL CORSIA EEU Order Book  
CBL GEO CORSIA CP1 Standardized Contract Order Book 
  • Sub custody for CORSIA participants:  Our sub-custody account structure for CORSIA allows market participants to purchase, manage, and retire EEUs at multiple registries without the need to open and maintain their own registry accounts. Retirements can also be facilitated on behalf of end users.  
  • Global Counterparty Network: Airlines and sellers can trade with each other across the ACE/CBL marketplace or over-the-counter without the need for bilateral credit agreements, provided the transactions are settled via ACE’s clearinghouse (ICH) or CBL’s post-trade settlement mechanism. Escrowing of credits to assist with forward bilateral transactions is also available as a service. 
  • Peerless Transaction Data: In a world of synthetic data, Xpansiv is the premier source for transaction data as well as firm, executable order data. Our market data includes historical and end-of-day prices, volume data for project-specific carbon EEUs as well as CBL’s CORSIA GEO CP1 standardized contract. We currently have over one year of CORSIA CP1 data.  

For more information, please contact us at ace@xpansiv.com. 

Xpansiv CBL and Aviation: A Decade of Innovation

From its inception in 2016, Xpansiv CBL Markets has worked closely with the global aviation community to support its voluntary and compliance emissions goals, including the Carbon Offsetting and Reduction Scheme for International Aviation {CORSIA), introduced the same year.

IATA ACE Launch

In 2020, CBL and the International Air Transport Association {IATA) launched the IATA Aviation Carbon Exchange {ACE). IATA ACE is a secure and centralized global marketplace for airlines, airports, and other stakeholders to trade CORSIA Eligible Emissions Units and the CBL GEO CORSIA CPl standardized contract.

GEO Standardized Contracts Built on the CORSIA Framework

The same year, CBL launched the CBL Global Emissions Offset'” {GEO”‘) modeled on the CORSIA framework, just prior to the scheme’s pilot phase implementation in January 2021. More than 100 million tons of carbon have been transacted via the CBL GEO spot and futures contracts, the latter launched by CME Group in March 2021-settled via CBL’s automated post-trade infrastructure.

In 2025, Xpansiv launched the CBL GEO CORSIA CPll standardized contract aligned with the Scheme’s current compliance phase.

Compliance Phase EEU Procurement Events

In 2024, IATA and CBL, with Mercuria and the Government of Guyana, launched a series of procurement events for CORSIA first compliance phase Eligible Emission Units {EEUs) on IATA ACE. The procurement events’ transparent fixed-price auction methodology enabled airlines to purchase. Jurisdictional REDD+ ART Trees Guyana EEUs-then the only available CORSIA-compliant project credits-at prices ranging from $21.70 to $22.55. Thirty-two airlines took part in the inaugural event and industry participation continues to grow.

We are excited to support IATA’s first 2026 CORSIA EEU procurement event and support future market developments.

For a decade, we’ve partnered with the aviation community to develop significant market solutions. We look forward to continuing this collaboration in the years ahead.

For more information, please contact us at ace@xpansiv.com.