Mar 262008

We’ve all read about JP Morgan’s ongoing attempt to snap up the troubled Wall Street bank Bear Stearns, but an email newsflash just alerted me to another, perhaps more intriguing JP Morgan acquisition. The bank has just bought Climate Care, the carbon offsetting company that I’ve worked with in the past, and who provide offsets for Weber Shandwick’s most frequent UK flyers as part of our environmental policy. Mike Mason, the entrepreneur behind Climate Care, has taken this organisation from strength to strength over the past 10 years. I suppose the intention always was to sell, but I do find the merger of one of the most credible carbon offset companies with such a huge international institution a fascinating sign of the times. The big banks are under pressure for all sorts of reasons at the moment, not least because of the perceived underlying weaknesses in the global financial system. But scrutiny is also increasingly focused on how the financial world is tackling (or not) the major environmental challenges the planet faces. Today’s news suggests that JP Morgan intends to play its part, and of course make some money out of it too. Read more about the deal here

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