I noticed that one of the best Carbon offsetting companies out there, Climate Care, has been acquired by JP Morgan – see the following press release.
This is an interesting move, unlikely to be popular with people who are offsetting with the company, due to the perception that money and benefit might, in part, go to the bank. However, this does mainstream one of the best operators out there and for all the Climate Care loose in terms of ‘selling-out’ they may be able to leverage from their new positioning. I imagine that this is also a clever play from the bank with regards to capturing some of the growing carbon market.
This is likely to be good news for our offsetters, BVCO, who were recently recommended in a recent Which survey. They are likely to gain custom from those unwilling to offset with a large bank. But, I feel, also good news for Climate Care, who have spent 10 years building one of the best and most transparent companies in an increasingly crowded and hazy market. Considering their achievements and hard work, they have every right to sell on. Although there will inevitably be a backlash from the puritans, I hope that this move is a positive one that increases the overall contribution to the issue at hand.
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