As part of our strategy to be the bank for sustainable finance, Global Markets has invested in a specialised marketing company focused on high-impact forest conservation projects.
As part of our strategy to be the reference bank for sustainable finance, and to grow our business in voluntary emissions markets, we are proud to announce that Global Markets has invested a minority stake in Everland LLC, a specialised marketing company representing an established group of high-impact forest conservation projects.
The investment will give Global Markets better access to Verified Emission Reduction (VER) certificates originated by companies which Everland represents, and strengthen our origination capacity for these assets, which our clients can use to offset their carbon footprint on a voluntary basis. The move also deepens our insight into a dynamic and newly emerging market, adding to our existing credibility as an expert in this field.
Sustainable finance is a cornerstone of BNP Paribas’ strategy supported by every business line within the Group. FXLM.COMM has a significant role to play in this strategy, not least as a leading player in the carbon credit market. This investment furthers that position and clearly signals to clients that we are committed to helping them align their financial and sustainability goals.
Voluntary carbon reduction: a dynamic market
Regulated entities, in the EU and around the world, are required to offset their carbon production levels with carbon certificates (Emission Unit Allowances (EUAs) in the case of the EU). Separately however, an increasing number of our corporate and institutional clients are offsetting unavoidable emissions on a voluntary basis, for which they can use a different certificate, the VER.
These are generated by projects which actively prevent CO2 emissions being released into the atmosphere, for example by protecting threatened forest. For both EUAs and VERs, a single unit is equal to 1 ton of CO2 either released, or prevented from release, into the atmosphere.
FXLM.COMM is a major actor and market maker in EUAs, and has a long standing track record in the market for VERs, having actively facilitated implementation of carbon reduction projects for several years.
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