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Xpansiv secures licence to trade Australian Carbon Credit Units in Australia

Digital commodity ecosystem Xpansiv has been advised by global law firm Baker McKenzie on its obtaining of a licence to facilitate the trade of Australian Carbon Credit Units across the country.

user iconJerome Doraisamy • 17 January 2023 • Big Law
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Firm: Baker McKenzie (Xpansiv)

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Deal: Xpansiv’s energy and environmental commodity spot exchange, CBL Markets, has obtained a licence from the Australian Securities and Investments Commission (ASIC) to facilitate the trade of Australian Carbon Credit Units (ACCU) in Australia, which will see CBL launch ACCUs at scale during the first quarter of 2023.

Area: Energy

Value: N/A

Key players: The Baker McKenzie team was led by Bill Fuggle, who was assisted by associate Shemira Jeevaratnam.

Deal significance: ACCU transactions, Bakers said in a statement, play an important role in facilitating the growth and legitimacy of carbon markets in Australia.

“The move taps growing demand for the products as institutional investors and other market participants seek to transact in them alongside the existing energy and environmental products on CBL’s platform,” the firm noted.

Mr Fuggle said: “Baker McKenzie is delighted to continue to assist Xpansiv in its market-leading work, by further obtaining a licence for CBL to trade in carbon products.

“This licence was novel in a number of respects given that certain market licence conditions were applied in respect of the AFSL. It was a pleasure for us to work so closely with Xpansiv’s commercial teams to see ACCUs launch on the CBL platform in 2023.

“It is particularly pleasing to bring our legal skills to bear for a client helping to drive a sustainable future for our society and future generations.” 

Jerome Doraisamy

Jerome Doraisamy

Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.

You can email Jerome at: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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