Press release
28 July 2026
Cambodia Improved Cookstove credits (VCS 2925) clear in multiple tranches with a volume-weighted average price above $12.60/tCO₂e and a highest price of $12.75/tCO₂e including fees, establishing a trusted price signal for the emerging CORSIA supply market.
LONDON, UK — Emstream, the specialist environmental commodities brokerage, has successfully completed its second CORSIA carbon credit auction on behalf of SEFE via the Emstream Venue on Emsurge Open Markets (EOM). The auction of 100,000 tCO₂e of Article 6 and CORSIA Phase 1 Labelled credits from the Grouped Projects for Cambodia Improved Cookstove (Verra VCS 2925) closed on 23 July 2026, with volume allocated across multiple tranches.
The results represent more than a successful transaction. By clearing in multiple tranches at competitive prices on a transparent, structured venue, the auction establishes a credible and visible price signal for Article 6 and CORSIA Phase 1 Labelled supply — exactly the kind of reference data the market has been lacking.
The auction has also catalysed real secondary market activity. Airlines and compliance buyers are now actively seeking CORSIA-eligible volumes but have been slow to secure supply at scale. Transparent auction processes on regulated venues provide the price discovery and deal certainty that give both buyers and sellers the confidence to transact.
The Cambodia Improved Cookstove project (VCS 2925) carries an Article 6 label, CORSIA Phase 1 label, Letter of Authorisation, insurance, and certified SDG co-benefits under SDVista — with Cambodia as a CORSIA Phase 1 signatory, Least Developed Country with an established Article 6 framework and a timely BTR submission. These credentials place the credits among the most credible instruments available in the voluntary and compliance carbon markets today.
"We're happy with the very positive outcome of this auction. It is encouraging to see genuine demand returning to the market with airlines looking to purchase credits, coupled with the additional clarity and support for CORSIA provided by the recent EU ETS announcement. SEFE's role as a trusted CORSIA compliance partner is to bring authorised, Phase 1 labelled supply to airlines, and Emstream's platform gives the liquidity and price discovery tools to do that transparently."
Nathan Dixon · VP Environmental Products, SEFE
"This auction demonstrates exactly what structured, transparent carbon markets should look like. We cleared nearly 100,000 tCO₂e of high-integrity CORSIA supply at prices that reflect genuine market demand — and we're proud to be building the infrastructure that makes that possible. The secondary market activity this has already unlocked is the bigger story: airlines are looking, and processes like this are what will help them find and secure the supply they need. More to come."
Melissa Lindsay · CEO, Emstream
This is the second in a series of scheduled CORSIA auctions hosted by Emstream on Emsurge Open Markets, and the third auction overall on the platform. As CORSIA demand builds through the remainder of 2026 and into the compliance periods ahead, Emstream expects activity to continue to grow across auctions, electronic RFPs, and direct trading via EOM.
Market participants wishing to host an auction, run an electronic request for proposal or quote, or access real-time CORSIA price data via CORSIAmarket.com are encouraged to get in touch with the Emstream team.
Emstream is a specialist environmental commodities brokerage and the canonical reference account for Emsurge Open Markets. Emstream operates across voluntary carbon, compliance carbon, EACs, and biodiversity credits, providing institutional buyers, project developers, corporates, and airlines with structured access to high-quality environmental assets.
Emsurge Open Markets is an Azure-native, event-sourced trading platform for environmental and energy commodities. EOM provides live price discovery, auction infrastructure, and venue management for brokers, traders, and institutions operating in voluntary carbon, LNG, EAC, and biodiversity markets.
SEFE is an international energy company anchored in Europe, delivering energy solutions that ensure reliable and affordable supply. Our activities span the entire energy value chain – from origination and trading to sales, transport and storage. With decades of trading expertise and a growing LNG portfolio, SEFE is one of Europe's leading suppliers to industrial customers, providing more than 200 TWh of gas and power each year. We supply over 50,000 clients, from small businesses to municipalities and multinational organisations. By investing in clean energies, we support our customers on their decarbonisation journey and contribute to the energy transition. SEFE employs over 2,000 people worldwide and is owned by the Federal Government of Germany.
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