Trafigura to open carbon offset trading desk
![](https://www.cityam.com/wp-content/uploads/2019/05/switzerland-energy-oil-trafigura-153242444-56b393854750f.jpg?w=742)
Commodities giant Trafigura has today announced that it will launch a carbon trading desk as financial institutions continue to adapt to the ever-increasing focus on climate change.
The new desk will be led by Hannah Hauman, the firm’s former head of crude oil trading in Europe.
The decision marks another step into the low-carbon market for the trading house, which set up a renewables and power division in 2019.
Carbon offsets are seen as a vital tool in the fight to limit greenhouse gas emissions in sectors where it is not yet possible to remove emissions altogether.
In a statement, the firm said: “Carbon offset markets provide the means for price discovery to drive the reduction of greenhouse gas emissions in existing supply chains and to encourage investment in carbon sequestration measures and technologies.
“Trafigura believes its entry into this market will bring increased liquidity by connecting producers of offsets to its global network of oil, metals and minerals customers including producers and end users.”
Trafigura will be involved in voluntary offsets as well as regulated carbon markets including the U.S. regional ones and the EU carbon permit scheme.
Before the Open: Get the jump on the markets with our early morning newsletter