The Commonwealth Bank of Australia has made a $15 million investment in Xpansiv, the ESG commodities platform.

Xpansiv plans to build Australia’s voluntary carbon market including ESG commodities such as carbon offsets, Renewable Energy Certificates (RECs) and differentiated fuels, and provide a platform for buyers and sellers loking to meet ESG commitments.

Andrew Hinchliff, CBA Group Executive Institutional Banking & Markets, says, “Global and Australian voluntary carbon markets are nascent today, but we expect them to grow rapidly, fuelled by increasing net-zero commitments from companies, rising demand for carbon offsets and more private sources of capital entering the market. Our view is the carbon market in Australia will develop on a voluntary basis, progressively drawing in partners and building critical mass. We are meeting with many other organisations interested in this space and are exploring opportunities where we can work together to help develop and grow Australia’s voluntary carbon market”.

“Xpansiv has built a leading marketplace for ESG commodities, and we are pleased to be able to invest in the next phase of its growth. This includes its launch of Australian Carbon Credits Units (ACCU) trading next year as the company continues to build out its platform,”