JPMorgan Buying Carbon Offset Company
JPMorgan Chase & Co. will buy ClimateCare, a privately held carbon offset company.
Terms of the deal were not disclosed. ClimateCare will be integrated into JPMorgan’s environmental markets group.
The combined entity will create carbon emission reduction projects worldwide and trade carbon emission reduction credits generated by the projects.
Carbon offsetting aims to reduce carbon emissions by funding sustainable energy projects to offset carbon emissions from cars, planes, power plants and other sources.
