When Goldman Sachs entered the carbon emission reduction sector, via a 10% stake in Blue Source in October and the acquisition of the majority of E+Co’s carbon offset portfolio in November, it signalled a rare thing: Goldman arriving a little late to a market. It may be tardy, but Goldman has spotted how much opportunity there is in the carbon emissions value chain.
The US bank had already made a significant investment in the Chicago Climate Exchange (CCX), but the investment into emission storage specialist Blue Source gives Goldman a toe-hold in the so-called primary market, through which it can invest in carbon reduction projects and earn offsets that clients can use to manage their carbon risk.
