JPMorgan has acquired Climate Care, a UK carbon offset company. The company will invest in large-scale carbon emission reduction projects and trade the carbon emission reduction credits. ClimateCare will be integrated into JPMorgan’s Environmental Markets group. Financial terms of the acquisition were not disclosed.
Investment banks including Citigroup, Morgan Stanley and Merrill Lynch have bought stakes in developers of emissions-cutting projects, but JPMorgan said it was the first case to buy a developer outright, The Guardian reports.
“Clients are seeking to reduce their emissions both due to regulations and out of social responsibility,” said Blythe Masters, head of Commodities at JPMorgan. “This transaction positions JPMorgan to offer the highest-quality advice and execution in emerging carbon emissions markets.”
The global carbon market will see 4.2 billion tons carbon emissions transacted during 2008, up 56 percent from last year, according to recent research.
Retailers, Developers and Eco-Business Leaders...learn about green retail trends, consumer buying habits and sustainable business practices. Register NOW to Attend!
The 2008 Green Leaders Survey collects sustainability program insights from business and civic leaders. Learn from peers what works and what doesn't. Take survey>>
Recycling rates in the U.S. are low and getting lower. The U.S., by far the world's biggest consumer of aluminum ... continue »
Consumers are calling on brands to take responsibility for reducing the impact of climate change as governments fail to make progress, according ...
click to view full size chart »
Renee St. Denis discusses how Hewlett-Packard's corporate processes and design strategies have evolved in dealing with e-waste, or outdated and discarded PCs, ...
Join the Discussion