Amsterdam-based environmental commodity trader and climate solutions provider, STX Group, has secured €150m ($180m) in credit facility in what marks the first time the banking sector has backed this type of financing. With half of the funding committed and the other half uncommitted, STX expects its expansion to be fuelled by the facility. The credit facility is supported by a syndicate of unnamed globally renowned banks. The facility is acknowledged as oversubscribed and offers a partial security from a diverse portfolio of environmental commodities. STX provides carbon offset solutions through access to a range of products, such as afforestation, wind power, energy efficiency and recycling. STX’s CFO, Bart Wesselink, said the banks’ support was a pivotal step for the industry and provided more access to financing while promoting a level playing field.
It is important that carbon credit schemes also benefit local communities.
The World Meteorological Organisation has stated that 193 countries have given unanimous backing to a scheme to monitor global greenhouse...