Marex and Levmet collaborate on first physical aluminium into carbon neutral materialJuly 14, 2022
Marex and Levmet, a leading global commodity trader, have collaborated on what is believed to be the first conversion of physical aluminium into carbon-neutral material by offsetting.
The trade was structured by Marex, with the carbon offsets purchased and retired through the AirCarbon (‘ACX’) platform on behalf of Levmet. This was in conjunction with Marex’s environmental team and is in line with Marex’s broader commitment to ESG.
The carbon dioxide equivalent emissions associated with the aluminium production was calculated by Marex using public information and independent advice on carbon intensity from the latest industry studies, which was offset using high-quality carbon offsets. These were sourced from nature-based projects that have been independently verified by the Verified Carbon Standard, as well as being rated AA by BeZero, the global ratings agency for the voluntary carbon offset market.
“Levmet is committed to protecting the environment and to playing its part in the low-carbon transition. We view this pilot transaction an important step in facilitating that transition,” said Andrew Campbell, CEO, Levmet.”
Simon van den Born, Marex President, commented: “The metals industry, ferrous and non-ferrous, has an obligation to be at the heart of the global decarbonisation process. Marex is committed to being a positive force in that process and we see this initial transaction as the first step in developing a ‘green metal’ service for our clients.”