Simpson Spence Young Goes Carbon Neutral
Simpson Spence Young (SSY) has today announced the launch of a new carbon desk and offsetting service, part of a wider strategy which starts with a commitment from SSY to make their global offices carbon neutral. To help clients achieve their own decarbonisation strategies, SSY will offer a fully-rounded service in both compliance and voluntary offsets, as well as futures and options coverage. SSY will engage with a range of businesses that can supply high quality portfolios to meet their clients’ varying needs.
Speaking at today’s EEX webinar on Carbon in Shipping, Duncan Dunn, Senior Director SSY Futures commented:
“The new carbon desk will be supported by our in-house research team, as well as data from our partnerships with Signal Ocean and Marine Benchmark. These underpin SSY’s ability to accurately estimate a vessel’s future emissions or provide a complete audit of its actual emissions.”
SSY will showcase this expertise through an online client portal, due to be launched next month, where shipping market professionals can get an overview of the carbon markets, along with up-to-date information on Global and European carbon emissions.
This platform will also be linked to the EEX Carbon in Shipping index which is due to be launched next month.
Richard Heath (Head of Global Commodities at EEX) explained during today’s webinar - “As a major player in both the freight and carbon markets, we (EEX) have a duty of care and a responsibility to help our customers navigate through the decarbonization process and ensure that they manage their exposure effectively.”
In addition to outlining their roadmap for facilitating sustainable change in the shipping sector, EEX also unveiled their latest sustainable shipping initiative – a new Zero Carbon Freight Index. Launching on 12th July, the new index will show a daily “synthetic” FFA rate inclusive of 100% carbon reduction.
SSY is also working towards their own carbon neutrality, by reducing their emissions and collaborating with leading carbon offset provider Respira International. SSY will also work with Respira and a range of other providers to identify high quality offset projects for their clients.
Mark Richardson, Chairman of SSY commented “Maritime transport accounts for around 2.5% of global emissions and the reduction of greenhouse gases is fast becoming a top priority for many of our clients. We recognise the importance of providing a complete end to end service for all our customers, and our new offering will support them through their carbon journey. Reducing our impact on the planet is also important for us as an organisation, which is why we’ve committed to all our offices becoming carbon neutral. I’m pleased to say that we’re well on our way to achieving this.”
Simpson Spence Young press contact
Media Relations: Issued by Navigate PR on behalf of Simpson Spence Young. For further details please contact Alex Wood.
T: +44 (0)77 3053 5104
About SSY Futures Ltd
SSY Futures Ltd is one of the largest Dry Bulk and Freight derivatives brokerages in the World, with brokers in London, Singapore, and Stamford. SSY Futures specialises in the steel complex and base metals derivatives as well as Forward Freight Agreements, with a new energy business targeting gas and power contracts. SSY Futures is a wholly owned subsidiary of Simpson Spence Young.
About Simpson Spence Young
Established in 1880, Simpson Spence Young (SSY) is the world's largest independent shipbroker. Our 400 employees cover each major market including dry cargo chartering, tanker chartering, LNG chartering and projects, ship sale and purchase, chemical chartering, consultancy and research, futures, and towage.
SSY has a global reach, with offices in London, Singapore, Houston, Shanghai, Stamford - USA, Sydney, Geneva, Bergen, Hong Kong, New York, Mumbai, Madrid, Oslo, Sao Paulo, Copenhagen, Tokyo, Vancouver, Dubai, Varna, and Zug.
Respira International is an international financing house for carbon offsets, Respira provides solutions to corporates and asset managers who are looking to offset their carbon footprints, by aggregating offsets from diverse and high-quality projects into pooled portfolios. As an institutional counterparty, Respira provides access to diversified projects, the certainty of future supply and price, and alleviation of reputational risk.