Trafigura starts carbon trading desk
Singapore, 9 April 2021 – Trafigura Group Pte Ltd (“Trafigura” or the “Group”), one of the world’s leading independent commodity trading companies, will launch a Carbon Trading desk.
After five years with the Trafigura Group, most recently as Head of Crude Oil for Europe, Hannah Hauman has been appointed Global Head of Carbon Trading. She will lead a dedicated team based in Geneva, Houston and Singapore, with plans to recruit a number of additional roles.
Regulated and voluntary carbon offset markets will have an important role to play in the progression towards a carbon neutral world for industries with emissions that cannot otherwise be eliminated or reduced through investment and operational optimisation. 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.
“We are delighted to announce the formation of a dedicated Carbon Trading team which will enable us to respond to customer demand, whilst supporting investments in decarbonisation projects globally. This is an important development for the company which we believe has the potential to contribute significant future growth,” said Jeremy Weir, Trafigura’s Executive Chairman and CEO.
Conor McFadden has been appointed Head of Crude Oil for Europe with immediate effect, taking over from Hannah Hauman. Conor joined Trafigura almost five years ago and has global experience of trading oil for the Group. His most recent role was in the Houston office to trade the WTI crude oil contract. He will relocate to the Geneva regional hub office in the coming months.
For further information, please contact:
Trafigura Press Office: +41 (0) 22 592 4528 or firstname.lastname@example.org
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. Trafigura sources, stores, transports and delivers a range of raw materials (including oil and refined products and metals and minerals) to clients around the world and has recently established a power and renewables trading division.
The trading business is supported by industrial and financial assets, including a majority ownership of global zinc and lead producer Nyrstar which has mining, smelting and other operations located in Europe, Americas and Australia; a significant shareholding in global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura's Mining Group; and Galena Asset Management.
With circa 850 shareholders, Trafigura is owned by its employees. Over 8,500 employees work in 48 countries around the world. Trafigura has achieved substantial growth over recent years, growing revenue from USD12 billion in 2003 to USD147 billion in 2020. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade.