LONDON, October 26, 2022 /PRNewswire/ — Over the past year, XTX has purchased carbon removal credits for 8,374 tons of CO2, including the largest single purchase ever in the Puro registry. According to the cdr.fyi leaderboard, XTX is one of the top 10 companies worldwide for the purchase of CO2.
XTX believes that it is vital that early adopters earn carbon removal credits to accelerate the development of the market and lower the cost curve for the next waves of buyers.
XTX plans to continue purchasing CO2 removal tranches each year, focusing on projects that have scientifically valid methods to capture atmospheric CO2 and permanently store it for more than 1,000 years.
As well as buying carbon removal certificates, XTX has also invested over £400,000 in early-stage companies working towards net zero via the Carbon13 accelerator.
XTX has partnered with Supercritical and UNDO on their carbon removal program.
Michelle you, Co-Founder and CEO of Supercritical, commented, “When we first started working with XTX Markets on their climate strategy, it was clear that they wanted a high-quality carbon removal program that went beyond any mandated net-zero program. Being among the world’s leading carbon removal programs is an important signal to demonstrate its leadership in climate action and to set the standard for all companies in this space.”
Chris Zaire, Head of Partnerships at UNDO, commented, “For UNDO, the example XTX is setting in supporting permanent carbon removal is critical to scaling technologies such as enhanced rock weathering. By investing with us in 2022, they will not only help permanently remove 1,000 tonnes of CO2 from the atmosphere, but will also allow UNDO to make significant advances in our approach to monitoring and verification.”
XTX was the first trading company to eliminate carbon emissions on behalf of its employees as part of its climate pledges announced earlier this year:
XTX MARKETS CLIMATE PROMISE:
1) We are committed to avoiding energy consumption from fossil fuels
2) We are committed to eliminating all of the company’s carbon emissions
3) We commit to removing 16 tons of CO2 per employee
4) We are committed to supporting employees who want to reduce their carbon footprint
About XTX Markets:
XTX Markets is a leading algorithmic trading firm that works with counterparties, exchanges and e-trading venues worldwide to provide liquidity in the equity, forex, fixed income and commodity markets. XTX has over 180 employees in London, Paris, new York, Bombay and Singapore. XTX is consistently one of the top 5 global liquidity providers in FX (Euromoney 2018-present) and is also the largest liquidity provider for European equities (systematic internaliser) (Rosenblatt FY 2020 & FY 2021).
In a changing world, XTX Markets is at the forefront of making the financial markets fairer and more efficient for everyone.
SOURCE XTX Markets
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