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