Lion Group Holding said in a statement that it planned to expand into carbon trading and financing.
Carbon finance refers to any and all kinds of financial transactions and institutional arrangements that serve to reduce greenhouse gas emissions. It originated from two international agreements, the United Nations Framework Convention on Climate Change and the Kyoto Protocol.
According to Refinitiv’s 2022 study, the total transaction volume of the global carbon markets reached a record €865bn ($911.9bn) in 2022 and is estimated to continue to grow, with already six consecutive years of growth in global carbon market transactions.
Lion currently holds Securities and Futures Commission type 1, type 2, type 4, type 5 and type 9 licences as well as the Capital Markets Service licence issued by the Monetary Authority of Singapore.
“This is a key step in our global corporate strategy to maintain our competitiveness in the global marketplace. I believe a differentiated green sustainable development strategy will greatly enhance competencies in all areas of our core business and we will be poised to take advantage of key ESG value creation opportunities,” said Wang Chunning, CEO of Lion Group Holding.
“With the building out and expansion of our digital carbon finance business, we will have huge development potential when it comes to the provision of carbon financial services for the carbon markets as well as driving the growth of carbon finance-related derivative products.”
