Serrari Group

In a groundbreaking move towards sustainability and environmental responsibility, the Johannesburg Stock Exchange (JSE) has proudly unveiled a new carbon market in partnership with Xpansiv, the leading global infrastructure provider for environmental markets. This collaborative effort has taken shape through the establishment of a distinct legal entity known as JSE Ventures.

The new carbon market opens up exciting opportunities for local participants to engage in the trading of carbon credits and renewable energy certificates, which are stored in both local and global registries. This initiative empowers customers to advance their sustainability objectives, granting them full access to the comprehensive functionality of the global Xpansiv platform.

Market participants will be able to engage in spot trading, auctions, and requests for quotes related to carbon offsets and renewable energy certificates. This venture is particularly significant, as voluntary carbon markets have experienced remarkable growth in recent years, surpassing a total value of two billion dollars by 2022. African credits have consistently grown by an average of 36% over the past five years, according to the Atlantic Council.

Leila Fourie, JSE Group CEO, emphasized the global focus on carbon markets and stated, “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 decarbonization.”

John Melby, CEO of Xpansiv, highlighted the exciting prospect of collaborating with JSE, saying, “An exciting aspect of operating the global environmental markets infrastructure is partnering with leaders like the JSE to enable new marketplaces to scale the energy transition and efficiently support climate finance. 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.”

Xpansiv, founded in 2016, is a leading provider of environmental market technology, offering registry infrastructure, market data, and portfolio management platforms.

South Africa, currently the twelfth highest emitter of carbon globally, has a growing demand for access to and supply of carbon credits. The introduction of a South African voluntary carbon market is expected to expedite the creation of carbon offset projects, meet the demands of emitters seeking to offset their emissions, stimulate investment interest in the country, and make a meaningful contribution to economic growth and sustainability practices.

Leila Fourie also stressed that this initiative is well-suited for market participants with clear sustainability commitments, particularly those aiming for net-zero emissions. She added, “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.”

The launch of this carbon market marks a significant step toward addressing environmental challenges, enhancing sustainability, and fostering eco-conscious financial practices in South Africa and beyond.

Photo (Nelly K.)

By: Delino Gayweh
Serrari Financial Analyst
16th October, 2023

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