As global attention grows around carbon offsetting, the CME Group—one of the world’s largest derivatives marketplaces—has launched a suite of standardized futures contracts designed to bring greater transparency, liquidity, and integrity to voluntary carbon markets. These products—GEO (Global Emissions Offset), N-GEO (Nature-Based GEO), and C-GEO (Core GEO)—offer distinct pathways for companies and investors to engage in carbon credit trading through verified, high-quality offset projects.

GEO contracts, introduced in 2020, are built around technology-based carbon offset projects registered with Verra, the American Carbon Registry (ACR), or the Climate Action Reserve (CAR). These credits must meet the CORSIA standard, developed by the International Civil Aviation Organization (ICAO) for the airline industry but widely recognized across sectors for its stringent verification criteria. GEO provides a reliable entry point for those seeking offsets with robust oversight and traceability.

N-GEO, launched shortly after, focuses on nature-based solutions—specifically projects in Agriculture, Forestry, and Other Land Use (AFOLU). These offsets are sourced exclusively from the Verra registry and reflect growing interest in biodiversity, land restoration, and community co-benefits. While offering environmental and social value, nature-based offsets also face greater scrutiny due to verification challenges and permanence risks.

C-GEO, the most recent of the three (2022), aligns with the Core Carbon Principles (CCPs) established by the Taskforce on Scaling Voluntary Carbon Markets. These offsets also come from Verra and are non-AFOLU, tech-based projects, but what sets them apart is their alignment with CCPs—a framework intended to create a unified global benchmark for high-integrity carbon credits. Although still evolving, C-GEO aims to shape the future of how carbon offset integrity is defined and governed.

Each contract serves a different type of buyer: GEO for those needing aviation-compliant offsets, N-GEO for nature-based impact seekers, and C-GEO for companies focused on long-term, standards-driven climate action. By offering verified offsets in a futures contract format, CME Group is helping to professionalize carbon markets and support broader adoption of decarbonization strategies across sectors. As scrutiny intensifies and global frameworks solidify, understanding the nuances between these three instruments is crucial for entities seeking to engage meaningfully—and credibly—in carbon offsetting.

Link: https://carboncredits.com/geo-n-geo-c-geo-whats-the-difference-among-these-carbon-markets/