Our Core Values
Integrity
We take pride in honesty & transparency throughout our organization and as the base of our business; we hold an uncompromising adherence to strong moral & ethical principles.
Collaboration
We move as one and operate as a team with a shared objective.
Curiosity
We pursue opportunities to teach as well as learn, and our inquisitive spirit is what drives our growth.
Innovation
We innovate by including diverse perspectives to transform the way the world values the building blocks of the global supply chain.
Inclusion
Our mission is for every team member to bring their full expression, including their unique experiences, thoughts, and backgrounds.
Market-Driven and Customer-Focused
We’re committed to making our customers smarter and faster—when they succeed, we succeed.
John Melby, Chief Executive Officer
Our History
CBL Founded
CBL emerges as an early pioneer, digitizing environmental markets and laying foundations for global carbon and water trading.
- CBL co-founded by Ben Stuart and Nathan Rockliff in Sydney in 2009
- Launched first global carbon offset exchange with electronic interfaces to banks and registries
- Opened office in New York and launched North American environmental products
Initial Acquisitions, Including Xpansiv
CBL begins to unify data and market infrastructure, positioning the company for industry leadership.
- Acquired H2OX water exchange
- CBL entered agreement with CME Group to list CCA Futures on NYMEX and agreement with APX to launch US REC spot products
- CBL acquired Xpansiv, later renaming the company to Xpansiv
- Acquired the Environmental Management Account (EMA) platform from APX
Accelerated Market and Geographic Expansion
Xpansiv matures into a global platform connecting carbon, renewable, fuel, & energy markets.
- Partnered with CME and S&P Global Platts on strategic initiatives
- Acquired SRECTrade to scale renewables & clean transportation
- Received $400M investment from Blackstone
- Acquired APX to enter registry & power software markets
- Acquired Evolution Markets to expand infrastructure & services
Major Milestones Achieved in Scale and Connectivity
Xpansiv solidifies market leadership and broadens its platform.
- Launched Xpansiv Connect to integrate registries & marketplaces
- Built Saudi Arabia’s carbon exchange
- Acquired PineSpire’s LCFS & REC businesses
- Launched CBL GEO CORSIA CP1 to bridge compliance & voluntary carbon
- Surpassed 125K solar systems under management
- Acquired Evident, creating a global clean energy registry leader
Building the World's Trusted Market Infrastructure
The global marketplace leader
Powering the world’s largest open market for energy and environmental commodities—trusted, transparent, and built to accelerate the energy transition.
The open & scalable choice
A neutral, scalable platform welcoming innovators and industry leaders alike – secure, open, and built for growth.
Mitigating risk, optimizing liquidity
Delivering data, transparency, and liquidity so participants can manage risk, make smarter decisions, and thrive in dynamic markets.
