RE: billy24 Jun 2021 21:59
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A lot of counterparties are high emitters,” said Marco Dunand, co-founder of Mercuria, which is to direct half its investments into energy transition projects. “And all of them are looking for a solution to reduce their carbon emissions.”
“There is great business potential there,” added Alex Sanna, head of oil and gas marketing at Glencore. “Carbon markets will have exponential growth.”
Hannah Hauman, Trafigura’s head of carbon trading, told the summit that carbon had the potential to be 10 times bigger than the crude oil market.
However, it is unclear whether these new markets can ever be as profitable as oil, which helped Gunvor, Trafigura, Vitol and Glencore to record profits last year.