MiQ Certificates to be launched on Xpansiv's CBL Global Spot Exchange

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Oct 18, 2023, 09:00 ET

MiQ Certificates to be available for trading on Xpansiv's leading environmental commodities exchange.
Collaboration supports MiQ's mission to eliminate oil and gas methane emissions this decade.

LONDON, Oct. 18, 2023 /PRNewswire/ -- MiQ, the not-for-profit global leader in methane emissions certification, announced today that all certificates on the MiQ registry, including MiQ and Equitable Origin certificates, will be available on Xpansiv's CBL exchange, enabling its network of environmental market participants to buy and sell the certificates on a transparent, centralized global marketplace. Availability on CBL will help scale the market for independently certified gas by increasing price discovery and liquidity and removing trading barriers.

"Our collaboration with Xpansiv will bolster MiQ's mission to minimise oil and gas methane emissions in line with the global shift towards renewable energy," said Georges Tijbosch, Chief Executive Officer at MiQ. "We are encouraged by the increasing number of operators choosing MiQ, underscoring our position as a trusted and reliable certification standard, and making MiQ the preferred choice for buyers serious about emissions reduction."

The recently launched global CLEAN initiative (coalition for LNG emission abatement towards net zero) shows there is increasing demand from natural gas buyers for transparency on methane emissions at every stage of the supply chain. MiQ's integration with Xpansiv's exchange will rapidly expand the market for MiQ certified gas, providing buyers with a granular understanding of their supply chain emissions.

MiQ Certificates are based on trustworthy emissions data collected from independent, third-party auditors using MiQ's Methane Standard to measure and certify the production of natural gas. This data differentiates natural gas based on methane emissions, enabling buyers to choose lower emissions natural gas and understand their Scope 3 emissions. This ultimately creates incentives for producers to take the appropriate steps to reduce their emissions.

Partnering with Xpansiv, MiQ aims to drive greater transparency on methane emissions from natural gas, and ultimately, the pricing signals needed to incentivise drastic methane emissions reductions across the industry. With MiQ now certifying 20% of U.S. production and having almost 6 billion certificates available on its digital registry, there is a significant opportunity for trading to take place on the Xpansiv platform.

Henrik Hasselknippe, Chief Operating Officer, at Xpansiv said:

"Xpansiv's platform facilitates access to MiQ's independently certified gas by enabling hundreds of market participants to view live bids, offers, and transactions alongside other market-based mechanisms on our central limit order book. We see MIQ Certificates as a great addition to scale the global energy transition using innovative environmental instruments."

About MiQ

MiQ is an independent not-for-profit established to facilitate a rapid reduction in methane emissions from the oil and gas sector. MiQ is the fastest growing and globally recognized methane emissions certification standard. Certification allows global society to credibly differentiate gas based on its methane emissions performance, providing a market mechanism that incentivizes methane reduction. MiQ's vision is to create a market where certified natural gas can be traded like other historical commodities, ultimately creating incentives to drive down methane emissions across the board.

About Independently Certified Gas

Independently certified gas (ICG) is natural gas produced by companies whose operations are independently verified by third-party auditors. This clear, neutral assessment of natural gas provides operators with the information they need to drive down their emissions. The MiQ standard is enabling the growth of a market for ICG to accelerate the reduction of methane emissions from the oil and gas industry.

About Xpansiv

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 operates 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.

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SOURCE MiQ