HomeCarbon CreditsMerger Creates North America's Largest Carbon Credit Originator and Marketer

Merger Creates North America’s Largest Carbon Credit Originator and Marketer

Bluesource, a provider of carbon credits, and Element Markets, a distributor of environmental commodities, have joined forces.

The new entity “TPG Rise Climate” will be managed by the alternative asset manager – TPG (NASDAQ: TPG).

TPG Rise Climate will be the largest creator and marketer of carbon credits and environmental credits in North America.

This transaction highlights the potential for consolidation in the market for ESG (environmental, social, and corporate governance) advisory services.

Bluesource advises businesses on how to minimize their carbon footprint by using carbon offsets and initiatives ranging from reforestation to wastewater treatment.

Bluesource previously announced a $500 million partnership with private equity firm Oak Hill Advisors to purchase timber forests for use in offset schemes.

Element Markets assists corporations in producing renewable natural gas while simultaneously providing carbon and other emission credits. Element Markets was acquired by TPG in January 2021.

There were no financial details disclosed except that NGP Energy Capital Management, another private equity firm, will also have a stake in TPG Rise Climate.

TPG Rise Climate business unit partner Marc Mezvinsky believes that “combining Element Markets and Bluesource will allow us to channel much-needed capital and solutions to deliver a robust supply of third-party-verified credits via nature-based sequestration, avoided nature loss, methane destruction, low-carbon fuels, and new and innovative pathways,”

Element Chief Executive Angela Schwarz, will lead the combined company and Bluesource co-founder Bill Townsend will serve as chief strategy officer.

TPG Rise Climate will employ approximately 150 people.

Most Popular
LATEST CARBON NEWS

How Did the EU Cut Over 8% of GHG Emissions in 2023?

The European Commission’s (EC) 2024 Climate Action Progress Report highlights significant strides in reducing greenhouse gas (GHG) emissions across the EU, with an 8.3%...

Navigating the Green Hydrogen Hype: IRENA’s Take on the “Silver Bullet” vs. “Champagne” Strategies

From combating climate change to boosting economic competitiveness, green hydrogen offers multiple solutions to some of today’s biggest challenges. Significantly, it’s a zero-emission fuel...

Canada’s Emissions Cap for Oil & Gas: Will It Cut Carbon or Curb Production?

Canada's upcoming emissions cap on the oil and gas sector aims to cut greenhouse gas emissions by 37% by 2030 from 2022 levels. However,...

Will Trump’s Re-Election Threaten Global Climate Progress Ahead of COP29 Talks?

Donald Trump’s recent election win has cast doubt over global climate efforts, with his victory sending ripples through the international community just a few...
CARBON INVESTOR EDUCATION

What is COP29 and Why Is It Hailed as The “Finance COP”?

As climate change worsens, the UN’s 29th annual climate conference, a.k.a. COP29, taking place from November 11 to 22, 2024, in Baku, Azerbaijan, is...

Carbon Credits vs. Carbon Offsets

Carbon Credits vs. Carbon Offsets: What's the Difference? At their core, both carbon credits and carbon offsets are accounting mechanisms. They provide a way to...

Who Verifies Carbon Credits?

Carbon credit verification is a rigorous process that involves various steps to ensure the legitimacy of the credits.

The Ultimate Guide to Understanding Carbon Credits

Everything you need to know about carbon credits, voluntary and compulsory carbon markets, and carbon investment...