PR95522

LONDON, April 19, 2022, /PRNewswire=KYODO JBN/ --

XTX Markets is one of the first companies to introduce a carbon removal

programme for employees as part of its newly released climate pledges.

To meet the IPPC’s 1.5C scenario, the emerging consensus is that carbon capture

and storage (CCS) needs to increase from around 40 million tonnes of CO2 in

2020 to 1 billion tonnes in 2030, then 10 billion tonnes in 2050.

The market for carbon removal needs to grow 25 times by 2030 and XTX will

support this goal by purchasing CCS credits that help to accelerate the market

and bring down the cost curve. XTX is focusing on projects that have

scientifically valid methods to capture atmospheric CO2 and store it durably

for thousands of years.

XTX has purchased its first tranche of carbon removal credits for its 2020

emissions, equivalent to 3,265 tonnes of CO2. It plans to purchase further

tranches each year.

XTX will be one of the first trading firms to remove its CO2 emissions and, as

far as it knows, the first major firm in any sector to remove household carbon

emissions on behalf of employees.

XTX MARKETS CLIMATE PLEDGES:

We recognise that net zero requires both the reduction and the removal of CO2

emissions. To this end, XTX is making four pledges:

1) We pledge to avoid energy use from fossil fuels:

Our research cluster uses geothermal energy (totalling 3.8 megawatts of

renewable power) and our UK office has switched to renewable energy. We will

keep working to incrementally improve on this.

2) We pledge to remove all the firm’s CO2 emissions:

We pledge to remove the CO2 emitted as a result of the firm’s own assets,

purchased energy use and indirect emissions (Scope 1, 2, and 3 emissions

respectively).

3) We pledge to remove 16t of CO2 per employee:

We pledge to remove individual XTX employees carbon emissions at the level of

16 tonnes of CO2 per employee - which is more than the average UK household

emitted in 2020.

4) We pledge to offer support to employees who want to reduce their carbon

footprint:

As well as removing CO2 on behalf of employees, we will offer further support

where we can. This includes initiatives like electric vehicle lease schemes and

advice on buying personal carbon credits.

Alex Gerko, Founder & co-CEO at XTX Markets, commented:

"We are pleased to announce our climate pledges, including our unique approach

to employee carbon removal. XTX is again leading the way within the algo

trading community and we look forward to others joining us in implementing

processes to help alleviate climate issues.’’

About XTX Markets:

XTX Markets is a leading financial technology firm which partners with

counterparties, exchanges and e-trading venues globally to provide liquidity in

the Equity, FX, Fixed Income and Commodity markets. XTX has 160 employees based

in London, Paris, New York, Mumbai and Singapore.  XTX is the 3rd largest FX

liquidity provider globally and the largest eSpot FX liquidity provider

globally (Euromoney 2020) and also the largest European equities (systematic

internaliser) liquidity provider (Rosenblatt FY 2020).

In a changing world XTX Markets is at the forefront of making financial markets

fairer and more efficient for all.

Source: XTX Markets