Netherlands-based STX Group, which trades globally in products such as renewable energy certificates (RECs), carbon offsets and biofuels, is expanding its Asia Pacific operations to now provide corporate guidance on climate action and environmental markets.
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The firm has appointed Maxim van Goethem as its Asia Pacific head. Van Goethem was previously the head of environmental commodities in Western Europe and switched to the new role last month. He is now based in Singapore.
STX Group said while Asia Pacific used to be the source of environmental commodities, it is now also home to a growing number of companies buying products such as RECs and carbon credits.
Van Goethem highlights how the region still generates approximately 70 per cent of its power from fossil fuels and is responsible for over 50 per cent of global emissions. This means that it “holds significant opportunities for environmental commodities and decarbonisation”, he said.
On the senior leadership team, van Goethem is joined by Aymeric de Conde, Asia Pacific head of Strive by STX, the group’s corporate climate action arm that was launched last year.
De Conde said that the group will also help companies address regulations such as Scope 3 third-party emissions reporting, and the European Union’s emissions trading schemes and import carbon tax.
Singapore is an “optimal marketplace” as it is the first in Southeast Asia to institute a carbon tax, and businesses in the country are buying more energy certificates, STX Group said.
Such certificates are sold by renewable power developers to businesses, including those who are not connected to the same power grid, to boost their income and make clean energy projects more financially viable. Buyers can use these certificates – in a similar fashion to carbon credits – to reduce their emissions in carbon accounting.
STX Group opened its Singapore office in 2021, and is now looking to hire seven more staff on top of its existing 14.
It is competing with a growing number of traders in this space, including Singapore firms AirCarbon Exchange and Climate Impact X, both of which have had government backing.
STX Group reports an annual trade volume of over €4 billion (S$5.80 billion), and has over a dozen offices worldwide.
