The Hamburg-based private bank M.M.Warburg & CO is entering the emissions certificate trading market.
According to the bank, it has acquired exclusive market access to expand its range of services in the shipping sector. So-called EU Allowances can be purchased via this. The certificates are deposited directly in the Union Registry account of the shipping companies. Berenberg Bank had already created a similar offering in the fall of 2023.
Berenberg Bank has been offering this new service since the beginning of this year against the backdrop of new EU requirements for the verification and offsetting of annual CO2 emissions in shipping, Berenberg Bank has now announced.
“We are delighted to be able to offer our clients a solution tailored to their needs in future,” says Christian Speer, Head of Shipping at M.M.Warburg.
Existing clients, in particular, will benefit from the expansion of the service, he adds. With an existing account, no further KYC checks need to be carried out. “Thanks to the existing customer data records, we can guarantee smooth and simple business,” says Jens Dose, Co-Head of Shipping.
M.M.Warburg & CO is an independent private bank with headquarters in Hamburg and other locations throughout Germany. Founded in 1798, the bank’s core business areas include Private Banking, Corporate & Investment Banking and Asset Management.
EU ETS
The European Emissions Trading System (EU ETS) is a key instrument of EU climate policy. The system covers 100% of emissions from journeys within EU waters and 50% of emissions from international journeys to or from EU ports. From 2026, 100% of CO2 emissions must be offset.
