ClimateCare Buys Itself Out From JPMorgan, Targets U.N. Offsets
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Emissions offset developer ClimateCare said it has been taken private in a management buyout from JPMorgan Chase & Co. as it seeks to expand investment in the United Nations carbon offset market.
ClimateCare, founded in 1997 to invest in greenhouse gas emission-reduction projects, has been bought back by the management and is an independent entity as of today, Edward Hanrahan, an executive director of the company, said by telephone and e-mail from Oxford, England. He declined to disclose the price paid. JPMorgan bought the company in 2008, a year before its purchase of EcoSecurities, an offset buyer.