ABN AMRO Launches New Product Division “Carbon Environmental Solutions” (CES)

Frankfurt am Main / Amsterdam, February 16 2024 Dutch bank ABN AMRO has launched the “Carbon Environmental Solutions” (CES) division across the group, offering extensive services for European CO₂ emissions trading. Initially based in Amsterdam and Frankfurt, the division is primarily targeting the maritime sector in the first phase to assist the industry in meeting upcoming regulatory requirements, with other sectors to follow. ABN AMRO has secured Christian Fleischer as the Head of Sales for the new activity, a renowned expert in European energy and emissions trading, transitioning from the European Energy Exchange (EEX) to the bank.

CES's offering represents a strategic expansion of ABN AMRO's service portfolio, combining industry expertise with the bank's established sustainability strategy. This initiative is in response to the EU's "Green Deal," requiring ship operators to pay for their ships' CO₂ emissions starting January 1, 2024. The gradual inclusion of the maritime industry in the EU Emissions Trading System (ETS) poses challenges for numerous private and institutional ship owners who have not been active on the capital markets.

As one of Europe's top ship financiers, ABN AMRO is now providing the maritime industry with a comprehensive consulting and service package through CES. This includes the purchase and sale of CO₂ emission certificates (European Emission Allowances - EUA) on behalf of customers through the regulated markets of the European trading centers, including cash management, financing and clearing. ABN AMRO is one of the world's largest providers in clearing services. The product offering will consistently expand to other industries. The CES division was significantly developed by Martin Eichstädt-Krug, a member of the management board of ABN AMRO Bank N.V. Frankfurt.

Christian Fleischer (42) will lead European sales as Head of Sales from Frankfurt starting March 1, 2024. Fleischer has been with EEX since 2008 and has served as Head of Sales for the environmental sector since 2020. ABN AMRO secures one of the most knowledgeable professionals in European emissions trading with him. Combined with its established networks and access, the bank is optimally positioned to offer its customers a comprehensive and specialized range in this field.

“With decades of presence in ship financing and our extensive trading and clearing expertise, ABN AMRO is particularly suited to play an important role in European CO₂ emissions trading for the maritime industry,” states Martin Eichstädt-Krug, ABN AMRO Germany Management Board Member. "We are confident that we can provide a sustainable range of services and real added value especially to customers in this industry. Furthermore, the CES division is another expression of ABN AMRO's clear positioning as a bank whose activities are geared toward making a positive contribution to the decarbonisation of the economy – other sectors will follow."

Christian Fleischer, designated Head of Sales, adds: “With the 'Carbon Environmental Solutions' division, ABN AMRO offers a European solution for emissions trading, providing customers with a solid foundation to meet regulatory requirements. I look forward to the opportunity to build a powerful service offering together with the new CES team.”

ABN AMRO is a Dutch bank for clients in retail, corporate and private banking with a focus on Northwest Europe. We offer our clients comprehensive products and services - including digital products and services - as well as in-depth financial expertise and specialised knowledge in numerous industry sectors. Headquartered in Amsterdam, ABN AMRO serves around six million customers and employs around 18,000 people worldwide. In Germany, the bank is represented by ABN AMRO Bank N.V. Frankfurt Branch and offers comprehensive wealth management (via the Bethmann Bank brand) and corporate banking services. In addition to its headquarters in Frankfurt am Main, ABN AMRO Bank N.V. Frankfurt Branch has 12 other locations in important economic centres in Germany and employs around 800 people, of which around 600 work at Bethmann Bank. ABN AMRO is also present in the areas of leasing, factoring and warehouse financing through its Asset Based Finance N.V. Branch Germany, based in Cologne.

More at www.abnamro.com, www.bethmannbank.de and www.abnamrocomfin.com/deu/de-de/

Communication and Marketing

Alexandra Vitt-Krauß

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