Trafigura has begun launching a carbon trading desk led by Hannah Hauman, the global commodities trading firm said on April 9, as part of its push to gain a foothold in the global energy transition.
The Geneva-based firm set up a renewables and power division in 2019 to be a third core pillar alongside metals and oil trading. It also formed a joint venture called Nala Renewables to invest in green energy.
Hauman was most recently head of crude oil for Europe, the company said in a statement. The new carbon team will be based in Geneva, Houston and Singapore.
Some of the team is already in place and working but Trafigura said it was seeking more recruits.
Conor McFadden, who was trading WTI crude in Houston with the firm, has been made the new head of crude for Europe in Geneva.
The carbon offsets market is growing rapidly as investors pressure corporations to cut emissions and lay out sustainability plans.
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.
A private sector task force on scaling up the voluntary carbon market said last year the market would need to grow 15-fold by 2030, with new trading products needed to enable organizations to meet goals set under the Paris climate agreement.
In an effort to meet this demand, U.S. exchange operator CME Group launched voluntary carbon offset futures last month.
Recommended Reading
Diamondback in Talks to Build Permian NatGas Power for Data Centers
2025-02-26 - With ample gas production and surface acreage, Diamondback Energy is working to lure power producers and data center builders into the Permian Basin.
Trump Administration to Open More Alaska Acres for Oil, Gas Drilling
2025-03-20 - U.S. Interior Secretary Doug Burgum said the agency plans to reopen the 82% of Alaska's National Petroleum Reserve that is available for leasing for development.
Energy Technology Startups Save Methane to Save Money
2025-03-28 - Startups are finding ways to curb methane emissions while increasing efficiency—and profits.
E&P Highlights: March 3, 2025
2025-03-03 - Here’s a roundup of the latest E&P headlines, from planned Kolibri wells in Oklahoma to a discovery in the Barents Sea.
Baker Hughes to Supply Multi-Fuel Gas Tech to TURBINE-X
2025-03-17 - Baker Hughes will provide TURBINE-X with its NovaLT gas turbine is capable of running on different fuels including natural gas, various blends of natural gas and hydrogen.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.