- Website: www.sagacommodities.com
- Sector: Carbon Trading
- Country: Bulgaria
- Revenue: €150M to €200M
Fading carbon footprints
In the face of irrefutable proof that the world’s temperatures are rising at a hazardous rate, companies are increasingly looking for ways to mitigate the environmental cost of their operations. This is particularly the case for industries known to be heavy polluters – energy and airlines in particular.
As Saga Commodities, one of Europe’s leading carbon trading companies, notes on its homepage, a return flight across the Atlantic from London to New York generates the same amount of carbon dioxide emissions as an average EU household using central heating for a year. The dramatic rise in carbon dioxide in the earth’s atmosphere resulting from these changes to human behaviour – more travel, more energy consumed – is altering the carbon cycle at a time when nature’s means of converting it to oxygen is being destroyed through deforestation.
“We would like to double in size in the next five years”
How then to ease the burden on the planet? The Bulgarian company brokers deals between companies around the world that allows them to trade emissions for so-called carbon credits, by passing the remainder of their unused emissions quota on to other companies. “Today we have 350 corporations as clients,” says CEO Stéphane Colin. Operating across the coal, electricity and biomass industries, it must be able to respond quickly to whichever company comes calling. “We are very reactive to our clients needs and are able to propose custom solutions.”
5bn – The number of people who could be living in an entirely new climate by 2050
Theirs is a business that can only grow as increased emissions fuel fears over the longevity of our planet as we know it. Scientists have warned that by 2050, up to five billion people, or two-thirds of the world’s population, will face an entirely new climate. Companies like Saga Commodities will be forced to expand to meet new demands, and new markets. We would like to double in size in the next five years,” says Stéphane. “We think that Central Asia, in particular Kazakhstan and Iran, will be very important for our activities.”