The spot trading platform is focusing initially on aluminium but is open to other metals. The first stage of LMEpassport is targeting electronic certificates of analysis (CoAs) for metals, with plans to expand its data set to include sustainability over time.
The proposals have been laid out in a discussion paper which is open for feedback until Thursday September 24.
According to Matthew Chamberlain, LME chief executive officer, there are diverse views within the metals community over the nature of the exchange’s role in sustainability: some participants feel sustainability issues should be dealt with bilaterally between buyers and sellers with the exclusion of the LME, while others publicly advocate for the exchange to play a larger role.
“The purpose of putting out this paper is to begin to capture that breadth of the sustainability debate and to put forward the LME’s views on how we can be helpful to...