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Stock impact report

Wall Street Backers See Breakthrough Moment for Carbon Offsets [Yahoo! Finance]

TPG Inc. - Class A (TPG) 
Company Research Source: Yahoo! Finance
Then Hank Paulson asked him to tackle carbon offsets. Most Read from Bloomberg Russia Is Sending Young Africans to Die in Its War Against Ukraine Macron and Scholz Get Trounced by Far Right in EU Elections Putin Is Running Out of Time to Achieve Breakthrough in Ukraine Scholz's SPD Suffers Record Rout in Germany's EU Vote Gantz Quits Israel Government After PM Fails to Meet Demands It was the summer of 2022, and the former US treasury secretary had recently taken the helm at TPG Inc.'s Rise Climate, the private-equity firm's main green investment vehicle. Paulson wanted to build a new multimillion-dollar venture called Rubicon Carbon that buys up credits derived from funding forest projects or backing wind farms as a way to let polluters compensate for their own contributions to climate change. A burst of corporate pledges to address emissions had sent a niche market, still only worth about $1 billion today, into a full-fledged rally. TPG injected $300 million into Rubic Show less Read more
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