Rating agencies may have taken a beating in the credit crisis, but some are hoping to make a good dollar out of the climate crisis.
The Carbon Rating Agency has announced that subscribers to Bloomberg’s market data service will now have access to independent information on the reliability and effectiveness of emission-reduction projects.
The Carbon Rating Agency is a subsidiary of IDEAcarbon, and their goal is to provide AAA-style credit ratings for carbon credits. They assess the likelihood of emission-reduction projects delivering promised emission cuts within the stated time period. Bloomberg’s decision to distribute the CRA’s reports is an encouraging reminder of how important climate change is becoming to mainstream financial markets.