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The Evolving Landscape of Carbon

What people are talking about

Australian review finds no problem with carbon offset program – After a 6-month review of Australia’s emissions abatement projects, no issues were found.

China’s measures to fix the energy sector’s emissions data will improve the credibility of the carbon trading market – Guidelines will be implemented to ensure clear and transparent verification mechanisms for evaluating emissions. The move to tackle data quality, particularly in the power sector, is aimed to improve the development of the national carbon market.

EU ETS: Preliminary agreement to include shipping in the EU’s Emission Trading System from 2024 – Upon final approval, commercial ships trading in the EU/EEA with a gross tonnage above 5000 will be required to surrender emission allowances for their CO2 emissions.

Investigation into Verra carbon standard finds most are ‘phantom credits’ and may worsen global heating – The analysis has raised scrutiny into the authenticity of carbon credits/carbon neutral consignments authorized under the Verra carbon standard.

What we are currently working on

If you are interested in any of these roles, please reach out to us by clicking the link below or via the contact details at the end of this newsletter. Alternatively, click here for more jobs.

  • EU ETS Trader

  • Senior Carbon Originator

  • LNG Contracts Manager

The Evolving Landscape of Carbon

“Carbon” and “Emissions” have been the hot buzzwords on every company’s agenda over the past few years which has subsequently created one of the hottest hiring growth areas over this time. Even in the midst of hiring freezes, carbon talent hiring has remained stable and unaffected as companies scramble to secure talent that is limited in supply, each company of which deploying its own unique strategies in order to both offset respective carbon footprints, as well as monetize trading opportunities in the voluntary and compliance carbon markets. As a result, the super majors, namely BP and Shell in particular, which deployed some of the most advanced and sophisticated carbon trading & origination business models, were naturally seen as prime hunting grounds for prospective employers seeking top-tier carbon trading talent. Amidst the hiring scurry, particularly between 2020-21, the top-tier global trade houses, Vitol, Glencore, Trafigura, and Mercuria, rose to scoop up large swaths of talent from the aforementioned houses, offering highly competitive remuneration premiums to attract talent in the midst of the scarcity. ​

Talent requirements have since evolved from the heights of 2020-21. More recently, carbon trading strategies deployed especially amongst the trade houses, which were primarily based on the conventional ‘buy & sell’ formula, have now shifted towards creating an integrated carbon value-chain through participation and direct project investment into upstream carbon abatement projects i.e., Nature Based Solutions, as a means of building exclusive partnerships and long-term positions to feed into their respective trading and marketing activities. This shift in paradigm has come about due to a number of factors including but not limited to, the scarce supply of ‘quality’ carbon credits, “greenwashing”, and the subsequent high barrier of entry requirements sought by project proponents when partnering with commodity market participants to ensure ‘environmental purpose’ over commercial profit. As such, we have observed increased demand for project origination talent, especially for those residing at the leading carbon project development companies i.e. South Pole, EcoSecurities, etc.

​In addition, with recent news of the maritime sector’s emissions set to be included in the EU emissions trading system by 1st January 2024, which will require ships trading in the EU/EEA to surrender emission allowances corresponding to a certain amount of its GHG emissions emitted over a calendar year, we will expect significant carbon hiring activity, particularly amongst the ship owners, managers, and charterers, who will be seeking to deploy their own nuanced carbon abatement strategies.

Market Moves ​

  • ​Dipeng Chen, Head of Power & Environmental Products Trading & Supply at Envision Energy (Shanghai) takes on an additional appointment at Jiangsu Jingrong Power Retail (Shanghai), as Chief Executive Officer.

  • Cole White, a former Carbon Trading Analyst at Shell (Singapore), has been promoted to Carbon Trader.

  • Bernard Samuels, former Head of International Gas & LNG Marketing at Novatek (Moscow) joins ADNOC Group (Abu Dhabi) as Vice President of Marketing, at Fujairah LNG.

  • ​Henri Jean Bardon, former Senior Biofuels Trader at Idimitsui (Singapore), joins AirCarbon Exchange (Abu Dhabi) as Director of Biofuel.

  • Dovina Husin, former LNG Marketing Manager at Novatek Gas & Power Asia (Singapore), joins Atlantic, Gulf & Pacific Company (Dubai) as Vice President, Commercial Operations.

  • Samuele Ravelli has been promoted to Vice President, LNG Asia at Equinor (Singapore).

  • Gerard Man, former Assistant Vice President at Bridgin Power (Singapore), joins Sumitomo Corporation Group (Singapore) as Senior Manager - Energy.

​We always look forward to keeping in touch and exchanging ideas, insights, and opinions. If you are a company considering hiring, we welcome the opportunity to present our services and capabilities. If you are a candidate, please check our jobs page or reach out to us to discuss your background, skills, and future aspirations.

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Sami Jacobs

+65 3165 0710

EA 18S9493 | R2092031