JP Morgan and ClimateCare join forces in acquisition

ClimateCare, a company which deals in carbon emission reductions, has been bought by US investment bank JP Morgan.

The companies will join forces in an acquisition to invest in quality, large-scale carbon emission reduction projects and to advance the development of a liquid financial market that trades in carbon emission reduction credits.

ClimateCare said we envisage the voluntary and compliance carbon-offset market growing substantially. It will become one of the defining features of the century.

ClimateCare makes reductions of greenhouse gases such as C02 on behalf of individuals and companies around the world and invests in wind power, hydro power, biomass, human energy and cooking-stove projects in developing countries. Working with companies as diverse as Land Rover and the Guardian, it has invested in China, India, Cambodia, Mauritius and many other countries.

Blythe Masters of JP Morgan said clients are seeking to reduce their emissions both due to regulations and out of social responsibility. This transaction positions JP Morgan to offer the highest-quality advice and execution in emerging carbon emissions markets.

ClimateCare was established by Mike Mason 11 years ago and currently employs almost 40 people in 5 countries. It is expected to grow as JP Morgan expands its carbon credit business to more than 60,000 corporate clients globally.

Back in 2005, JP Morgan adopted a comprehensive environmental policy that includes a strong commitment to addressing climate change by reducing its carbon emissions and working with its clients to do so in their business activities.

Financial terms of the deal were not disclosed.

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