STX Group, headquartered in the Netherlands and trading globally in products such as renewable energy certificates (RECs), carbon offsets and biofuels, has expanded its operations in the Asia-Pacific region and is now focusing on climate change and environmental markets. We provide corporate guidance regarding
The company has appointed Maxim van Goethem as head of Asia Pacific. Mr. van Goesem was previously head of environmental products for Western Europe, but last month he moved into his new role. He is currently based in Singapore.
STX Group said that while the Asia-Pacific region was once a source of environmental goods, it now also has an increasing number of companies purchasing products such as RECs and carbon credits.
Van Geetsem highlighted that the region still generates around 70 percent of its electricity from fossil fuels and accounts for more than 50 percent of global emissions. This means there are “huge opportunities for green goods and decarbonisation”, he said.
Van Geetsem will be joined on the senior leadership team by Aymeric de Conde, Asia-Pacific head of Strive by STX, the group's corporate climate arm launched last year.
De Conde said the group would also help companies tackle regulations such as Scope 3 third-party emissions reporting, the European Union's emissions trading scheme and import carbon taxes.
STX Group said Singapore is the “market of choice” as it is the first country in Southeast Asia to introduce a carbon tax and companies there are buying more energy certificates.
Such certificates are sold by renewable power developers to companies, including those not connected to the same grid, to increase revenue and increase the economic viability of clean energy projects. Purchasers can use these certificates in a similar way to carbon credits to reduce emissions with carbon accounting.
STX Group will open its Singapore office in 2021 and currently plans to hire an additional seven people in addition to the existing 14 people.
It competes in this space with a growing number of traders, including Singapore's government-backed AirCarbon Exchange and Climate ImpactX.
STX Group reports an annual trading volume of more than €4 billion (S$5.8 billion) and has more than 12 offices worldwide.