High Peak Royalties Ltd (ASX:HPR) (HPR) is all set to trade in assets tied to green projects on the CBL carbon market through its wholly-owned subsidiary GEO Capital Pty Ltd as it moves to diversify its oil and gas royalty portfolio.
GEO Capital has been approved by Verra, the central repository that registers projects and verifies their climate impact, and plans to invest in carbon offsets or trade in registered credits that are approved on the CBL exchange.
HPR plans to allocate up to $300,000 of funds into projects or investments that are traded on CBL, which is an Xpansiv Market platform.
Centralised platform
The CBL Xpansiv Market is a centralised platform to trade energy and environmental commodity products such as carbon, renewable energy, water and natural gas.
CBL’s trading platform has established the first-of-its-kind Standard Instruments Program (SIP). The SIP will build on market infrastructure to accompany and govern the launch of spot contracts to settle physical deliveries of environmental commodities across existing registries that meet certain defined, standardised criteria for market quality and performance.
Xpansiv is the global marketplace for data-driven ESG-inclusive products, and aims to be the preferred platform for redefining value based on immutable information.