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BP and Shell Replenish Carbon-Trading Desks After Mass Departures

  • The companies lost staff to trading houses last year
  • The jobs are becoming important as firms set net-zero targets
An oil flare burns at the BP Whiting Refinery in Whiting, Indiana.

An oil flare burns at the BP Whiting Refinery in Whiting, Indiana.

Photographer: Luke Sharrett/Bloomberg
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BP Plc and Royal Dutch Shell Plc have hired an array of carbon-emissions traders to replenish their ranks after an exodus of staff to trading houses last year.

Competition for traders of so-called environmental products has ramped up over the past year, with firms such as Trafigura Group Pte and Mercuria Energy Group Ltd expanding their footprint in businesses related to the transition to clean energy. With the cost of emissions rising, commodity-trading houses have looked to BP and Shell to hire experienced hands in the world of carbon credits and offsets.