BMCE Capital Markets has launched a new service to help Moroccan shipping and airline companies meet the European Union’s new carbon emissions rules.
The service gives transport companies access to the EU carbon market and helps them buy carbon permits needed to comply with the new regulations.
The changes come as the EU expands its Emissions Trading System (EU ETS) to the maritime sector and gradually ends free carbon allowances for airlines. Shipping companies and airlines covered by the rules must buy European Union Allowances (EUAs) to offset their carbon dioxide emissions.
BMCE Capital Markets will handle the purchase of EUAs, provide secure access to the EU carbon market, and offer support through its trading teams. The service also helps companies meet regulatory requirements and manage the risk of changing carbon prices.
The company says the new service builds on its experience in capital markets and commodity trading and responds to growing demand as environmental rules become stricter in international trade.
It says carbon markets are “a strategic asset class at the crossroads of finance, commodities and the global climate transition” and that the service will help businesses stay competitive while adding sustainability to their risk management.
BMCE Capital Markets is the trading room of BANK OF AFRICA’s investment banking arm. It provides trading services in foreign exchange, fixed income and commodity markets.
