INTL AL CONF: Low-carbon aluminium needs transparent, sustainability-based trading, En+ chair says

En+ Group has called on the London Metal Exchange to eventually make its new spot trading platform mandatory, in order to drive a new asset class for low-carbon aluminium and to improve transparent, sustainability-based trading.

In a keynote interview for the sustainability day of the Fastmarkets International Aluminium conference, En+ Group executive chair Lord Gregory Barker welcomed the LME’s consultation into a sustainability package including a spot trading platform. The consultation will end on Thursday September 24.
“The consultation is extremely welcome, and I congratulate [LME chief executive officer] Matt Chamberlain and his colleagues on bringing that forward,” he said.
“But I think it’s going to be a challenge to come up with something that’s really credible if we end up with something that is just voluntary, that isn’t as rigorous in terms of transparency. I think you could have a lot of disappointed punters out there,” he added.
The LME said in its discussion paper that it would not make carbon disclosure mandatory because there had not previously been a sufficient majority of people asking for that to happen.

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Published

Andrea Hotter

September 23, 2020

09:20 GMT

New York