Appleby has acted as Jersey counsel to SparkChange, a provider of carbon investment products and data, on the launch of an exchange traded commodity (ETC).
The ETC provides investors with exposure to regulated European Union carbon allowances without needing to build the complex and costly infrastructure required to access the market directly and take delivery of the carbon allowances.
Unlike solutions that try indirectly to limit carbon emissions – such as buying offsets, excluding dirty stocks or buying futures-based products – SparkChange CO2 specifically prevents carbon emissions from being emitted, creating measurable environmental impact.
The Appleby team comprised Appleby Jersey Office Managing Partner James Gaudin and Senior Associates Paul Worsnop and Gemma Whale.
The team worked with other advisers to implement the Jersey structure, advising on the necessary Jersey regulatory consents and approvals and the Jersey law elements of the wider programme and security.