Wall Street Backers See Breakthrough Moment for Carbon Offsets [BNN Bloomberg (Canada)]
TPG Inc. - Class A (TPG)
Company Research
Source: BNN Bloomberg
Then Hank Paulson asked him to tackle carbon offsets. 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 Rubicon, Bank of America bought in, and JPMorgan Chase Co. joined as a strategic partner. The goal was to “unleash as much carbon finance as possible,” Montag said in an interview. But a string of scandals threw the anticipated boom into question. There was the collapse of a giant forest-protection effort in Zimbabwe that had become one of th
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News
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TPG
Earnings
- 5/8/24 - Miss
TPG
Sec Filings
- 6/6/24 - Form 8-K
- 5/8/24 - Form 10-Q
- 5/8/24 - Form 8-K
- TPG's page on the SEC website