Reported 7 months ago
Former Goldman Sachs managing director Jim Bunch partners with law firm Linklaters and nonprofit Scope 3 Climate Capital to develop an alternative to carbon credits. The initiative aims to lessen private-sector dependency on carbon credits for achieving net-zero goals by focusing on corporate supply chains and introducing sector-transition acceleration contracts (STACs) that directly incentivize emissions reductions. This move comes as the voluntary carbon market, where carbon credits are traded, faces a 22% decline amid controversies, prompting companies to explore new approaches like STACs backed by structured finance and securitization techniques.
Source: YAHOO