Move due to London becoming "epicentre for carbon markets"
Swiss Re has announced it has moved its carbon emissions desk from New York to London and hired additional staff to accommodate recent growth in the carbon markets.
“London has become the epicentre for carbon markets due to the presence of key players and proximity to many of the affected installations,” said Ben Lashkari, head of emissions at Swiss Re’s environmental and commodity markets.
“With the new desk we will be better positioned to serve our worldwide client base.”
The desk’s activities include trading, originating and structuring bespoke capital market and insurance transactions for a broad range of stake holders in the rapidly expanding carbon markets.
In 2006, Swiss Re was the first to issue an insurance product for managing Kyoto Protocol-related risks in carbon credit transactions.