STX

Meet Andrea Molteni, Senior Biofuels Trader in our Amsterdam office. Andrea’s previous positions in biofuels compliance and optimization along with his key role in our biofuels trading desk reflect his dedication and passion for sustainability. With a focus on the Mediterranean compliance markets, Andrea’s expertise in trading Biodiesel (FAME) and Hydrotreated Vegetable Oil (HVO) has also been vital to our growth in this evolving sector. Stay tuned for more stories from the STX team and read here the full interview: https://lnkd.in/dFbb-hpk   #lifeatstx

Today marks the second anniversary of the Inflation Reduction Act (IRA), a landmark climate legislation which has already begun reshaping the American energy landscape by providing substantial incentives for the adoption of clean energy technologies and the reduction of carbon emissions. It's inspiring to witness the transformative power of the scheme in action as it incentivizes developers to accelerate the energy transition by building more renewable energy projects. The impact is clear with The Tax Foundation estimating that over $1 trillion in tax credits will be traded in the next decade, with the Advanced Manufacturing (45X) credits potentially surpassing expectations. The renewable energy tax credit industry is also rapidly maturing. The market is evolving quickly, with several of our client demand already shifting to 2025 credits. However, while the IRA has simplified the complexity of traditional tax equity, purchasing a tax credit remains similar to an M&A transaction, requiring negotiations between buyers and sellers, with buyers often seeking proper insurance and parent guarantees. As we move forward, STX Group is uniquely positioned with over $2 billion in tax credit book for the coming years, ready to support the ongoing transition to a sustainable energy future. More info about tax credits on our STRIVE by STX site: https://lnkd.in/dnQFFnAT Read here the press release about an STX Group's tax credit project promoting solar energy in Texas: https://lnkd.in/dZC-Nmpw

Max Van Meer, our Managing Director US, was interviewed for this Financial Times article which analyzes how Big Tech companies are influencing the standards for measuring and reporting greenhouse gas emissions, raising serious concerns about the accuracy and reliability of certain practices. As a key player in the environmental commodity market, we believe this is a crucial time to advocate for further transparency and accountability in corporate climate action. Thanks to Camilla Hodgson for the opportunity to share our expert views on how IRECs markets work in her insightful article.   Read the full article here (requires subscription): https://lnkd.in/d_DPhdQW

We are pleased to see new efforts to incentivize and facilitate hydrogen production. Providing early-stage support to a capital-intensive industry and streamlining administrative processes is crucial to ensuring the viability of the first wave of projects. Both Brazil and Germany have made significant strides, enhancing their natural synergy within the synthetic fuels value chain. Brazil's impressive renewable energy share and Germany's powerful industrial base are highly complementary. However, this progress also underscores the need for global harmonization of policies. Currently, there are discrepancies between how the US, EU and UK define low-carbon hydrogen, which poses challenges for producers looking to trade across these regions. Adhering to varying regulations can lead to increased complexity and, consequently, higher costs. For example, Brazil has adopted a technology-agnostic approach with an upper carbon intensity (CI) limit of 7 kgCO2e/kgH2, while the EU only recognizes electrolytic hydrogen with a maximum CI of 3.4 kgCO2e/kgH2. All tools are essential in transitioning the global economy to low-carbon energy and policies that promote the production and uptake of these fuels should be celebrated. As the industry continues to evolve and regulatory frameworks mature, we hope to see more internationally accepted standards that facilitate free trade. This will enable STX and its peers to bring much-needed liquidity and competition to the market. You can read more about the latest Germany and Brazil policy developments on green hydrogen in this article: https://lnkd.in/dNJhkuhW

The chemical industry stands at a crossroads. While essential to our world, it's one of the most carbon-intensive sectors. How can it reconcile its vital role with sustainability goals? STX Group's Chemical Expert and Strategic Project Manager, Yash Chawla, offers a deep dive into the challenges and opportunities in a new op-ed for Chemical Industry Journal. From the impact of regulations like the EU's CSRD and CBAM to the potential of renewable feedstocks and carbon capture, discover how the industry is working to promote decarbonization. https://lnkd.in/dH9ceW5Z

Meet Diederik Françoys, Business Development Director at STX, based in our Gothenburg office. Discover his interesting journey, consulting experience, advice for entering the sector and his views on why now is a crucial time for corporate climate action. Read more here: https://lnkd.in/eX5n5GVH

Paris 2024 - Comité d'organisation des Jeux Olympiques et Paralympiques de 2024 are setting new benchmarks in sustainability and environmental responsibility for major sporting events. With ambitious goals to reduce carbon emissions by half compared to previous Games, Paris 2024 is introducing various initiatives such as medals crafted from Eiffel Tower iron, stadium seating made of recycled plastics and using low-carbon vehicles for athletes and official visitors. The organizers are also investing in carbon offset projects for emissions that are not being avoided and renewable power solutions, including solar panels and floating solar farms. While challenges remain, particularly regarding spectator travel emissions, Paris 2024 is dedicated to minimizing its environmental impact and advancing global climate efforts. Explore how Paris 2024 is redefining what it means to host a sustainable worldwide competition in this Reuters article: https://lnkd.in/dMzf6bEH

A research report from Accenture revealed that 90% of CFOs polled say ESG issues will be a significant focus for the next 5 years as companies feel more pressure from stakeholders like regulators, investors, employees, board members and customers. Companies’ top management bodies are endeavoring to improve their ESG performance, especially ahead of the first CSRD report publication season in 2025. Environmental products we offer at STX Group such as Energy Attribute Certificates are helping businesses improve their environmental impact as well as scope 3 suppliers in sharing increasingly more positive and competitive ESG performance data with their clients. Find out more here via CFO: https://lnkd.in/dry2FB5n

🚀 Excited to announce that STX Group has been recognized by the Erasmus Centre for Entrepreneurship as one of the Netherlands' Top 250 fastest-growing companies! This achievement reflects our commitment to accelerating the energy transition and empowering businesses to achieve their decarbonization goals. Here's a glimpse into our growth trajectory: 🔹Over 200 new team members joined us in 2023 as we recorded a close to 50% global headcount growth  🔹We launched STRIVE by STX: This dedicated division offers holistic climate solutions, helping companies decarbonize through innovative products and services 🔹Through the strategic expansion to key energy hubs like Mexico City, Houston, Brussels and London, we strengthened our global footprint 🔹We relocated our Amsterdam headquarters to CROSSOVER, a leading sustainable office building, aligning with our values and employee well-being Fuelling this growth is a team of passionate and talented individuals who share our vision for a sustainable future. We offer a unique opportunity to work in a dynamic environment alongside some of the brightest minds in the industry, tackle real-world challenges and make a significant impact. We're proud to be part of a thriving ecosystem driving positive economic growth across the Netherlands and beyond. This year's ECE edition is particularly special, celebrating the significant contributions to job creation and societal impact, with a strong focus on sustainability.  Read the full report here: https://lnkd.in/dk5RuDX3

The European Court of Auditors (ECA) recently published a report scrutinizing the EU’s hydrogen strategy, highlighting several challenges and areas for improvement. While these critiques are important, it is equally crucial to acknowledge how the European Commission is actively addressing these issues and shaping a promising future for hydrogen in Europe. The RePowerEU targets are ambitious and guide the world’s largest economic block on its decarbonization journey, but these targets are not immediate and rather serve as an aspiration. The Commission is progressively enhancing the framework for hydrogen trade through a wide set of regulations, including the Renewable Energy Directive, FuelEU Maritime and ReFuelEU Aviation, addressing both the supply and demand of hydrogen. The market needs clarity and direction and these regulations provide exactly that for the decarbonization of transport and heavy industries. Ursula von der Leyen, newly re-elected as President of the European Commission, has outlined political guidelines for 2024-2029 that further bolster these efforts, focusing on sustainable prosperity, competitive clean industries and robust international cooperation. The European Commission has responded to the feedback and criticism from the ECA. Read their response letter: https://lnkd.in/dhKUeeGc