Wall St backers see breakthrough moment for carbon offsets

Tom Montag is chief executive officer of Rubicon Carbon. (Victor J. Blue/Bloomberg)

Sat, 22 Jun 2024

By Natasha White and Alastair Marshwith assistance from Heesu Lee and Jennifer A DlouhyAfter more than three decades on Wall Street – first at Goldman Sachs and then at Bank of America – Tom Montag thought he’d seen most forms of financial wizardry. Then Hank Paulson asked him to tackle carbon offsets.It was the summer of 2022, and the former US treasury secretary had recently taken the helm at TPG’s Rise Climate, the private-equity firm’s main green investment vehicle. Paulson wanted to build a new multimilli...

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