Friday, 28 March 2008

JP Morgan Acquires ClimateCare

Investment bank JP Morgan has acquired UK carbon offset company ClimateCare.

I have to say that only yesterday I was talking with a major IT services company about their own efforts to reduce carbon emissions and they dismissed, almost out of hand, the use of carbon offset. It's an attitude I have come across in a number of discussions in recent weeks. Offsetting is a sector of the market that is now shrouded in some suspicion because of scepticism around some of the offsetting schemes and companies.

That's not to say there is anything wrong with ClimateCare and the company will no doubt bring a lot of experience of carbon reduction schemes and carbon trading to JP Morgan. I anticipate that there will be a lot of investment in all sorts of carbon management expertise in the coming months. The IT services companies I have spoken to tend to prefer a partnership to acquisitions, but I suspect that a lot of these companies will be taken off the market through acquisition and it may end up as a scramble to acquire the expertise.

© The Green IT Review

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