Trafigura sets up carbon trading desk

London (Quantum Commodity Intelligence) - Trafigura is setting up a carbon trading desk, as part of its plan to gain a greater presence in the energy transition, the Geneva-based commodity trading house announced Friday.

The company will be involved in regulated carbon markets such as those in the European Union and US, as well as the market for voluntary offsets.

"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," said the company in a statement.

The desk will be led by Hannah Hauman, who was previously head of crude oil in Europe.

The crude desk will now be led by Conor McFadden, who had been trading WTI in Houston.

Trafigura set up a renewables and power division in 2019, and formed a joint venture called Nala Renewables with global investment fund IFM Investors to invest in green energy.