Carbon Trade Could Be 10 Times Bigger Than Global Crude Oil Market

The growing market for paying for carbon emissions could become a larger market than the one for crude oil, according to the head of carbon trading at Trafigura, one of the world’s largest commodity traders.

The carbon market has the potential to become 10 times larger than the global crude oil market, Hannah Hauman, Global Head of Carbon Trading at Trafigura, said at FT Commodities Global Summit on Wednesday, as carried by Bloomberg.

The biggest commodity traders are looking at growing opportunities in carbon trading and trading in energy transition metals.

Amid booming demand for key metals in the energy transition, commodity traders, and some hedge funds are racing to hire metals traders to capitalize on the demand for critical minerals, Reuters reported earlier this…

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