Phase Three: Profit!

I’m a little bit suspicious that we’ve got one of those “underpants gnomes” business models here, but whatever.  Keith Johnson reports on some moves by big-time financial players into the carbon market:

Merrill Lynch launched a new carbon-market index aimed at giving all sorts of investors access to the carbon markets. Meanwhile, J.P. Morgan said it would acquire ClimateCare, a British company that builds clean-energy projects in the developing world as a way to “offset” carbon emissions elsewhere.

I’m inclined to view this as a good thing.