Liquidnet became a member of Sustainable Trading, a non-profit membership network dedicated to transforming environmental, social and governance (ESG) practices within the financial markets trading industry.
This announcement solidifies the wider TP ICAP Group ambition to be the broker for the energy transition.
In April 2022, the group set new ESG targets including a commitment to being net zero by 2026 across Scope 1 – direct emissions from its own operations – and Scope 2 – indirect emissions including purchased/acquired electricity.
“Increasingly, a broad set of stakeholders, from employees, clients, suppliers, regulators and business partners to a growing number of investors, have enhanced expectations of companies,” said Brian Walsh, TP ICAP’s group head of sustainability.
He added, “Liquidnet joining Sustainable Trading marks a step towards meeting these expectations. We believe it’s possible to drive positive social and environmental impact alongside financial value.”
Sustainable Trading brings firms together to devise practical and sustainable solutions to industry-specific ESG issues as well as providing a mechanism for self-assessment and benchmarking.
“We are enthused to be joining the Sustainable Trading Network,” Rob Cranston, global head of equities product at Liquidnet. “If we have learned anything from the past couple of years it is that global issues require global collaboration.
He added, “There is clear shift within the corporate world and financial services as a whole to create shared value within society, addressing societal needs and challenges through business models. We are hopeful the group can be a strong part of the solution to these challenges. We look forward to exploring how Liquidnet can play a role and collaborate with peers in building a more equitable and sustainable future.”
Duncan Higgins, Founder and CEO of Sustainable Trading, said, “We are delighted to welcome Liquidnet to Sustainable Trading, and look forward to benefiting from their experience and expertise.
Liquidnet joins a fast-growing network of financial firms committed to driving positive ESG change in the financial markets trading industry..
We look forward to their valuable contributions to the member-led workstreams that are considering ESG challenges and defining industry best practices, on wide-ranging topics from environmental impacts of global trading infrastructures to workplace diversity, equity and inclusion.”
