We have long been carbon market pioneers, leveraging decades of experience in commodity trading, financial services and climate markets. We’ve used tools analogous to CXT across commodity markets and seen the power of fungibility as a vital building block of effective markets. Markets have long sought to fully integrate carbon into the global economy.  We believe maturation of technology and the acceleration of the transition to a low carbon economy makes now the perfect moment for CXT.  It is our mission to build and maintain this foundation to drive systemic change and enable maximum impact.

Scientists estimate the atmosphere’s remaining carbon budget at around 500 billion tons of carbon. There are many markets putting a price on the right to use parts of this carbon budget in the form of carbon credits. There are two categories of carbon credits: project credits that represent tons of carbon avoided (or removed) by voluntary carbon-reduction projects, and carbon permits, which represent carbon emission budgets set by governments. Both kinds of carbon credits can directly impact the amount of carbon in the atmosphere, but for now we focus on permits, a market that is 500x larger. Permits are managed under tight regulatory frameworks, reach virtually every sector and geographic region, and provide a price on carbon in every major economy in the world. Importantly, while the value of project credits reflects real or perceived additional benefits that a project creates beyond the carbon reduction, the advantage of carbon permits is that they are closer to a pure play on atmospheric carbon.

Climate change is not the beginning of the end. We are merely at the end of the beginning: after years of scientific research, technological innovation, and political indecisiveness, we are now at the cusp of turning the full power of human determination to managing the mess industrial progress to date has made. Instead of spending our remaining global carbon budget piecemeal, we are building a response that supersedes regional concerns and parochial politics to unleash the full wisdom of markets.