Bloomberg Philanthropies, Three Cairns Group Establish Global Carbon Trust

by Dimana Doneva on Carbon

Bloomberg Philanthropies and Three Cairns Group will join forces to launch a Global Carbon Trust (GCT) to scale up the voluntary carbon market. The news was announced on the first day of the international climate summit COP27. In addition to the Global Carbon Trust, the two companies will also establish the Carbon Storage Governing Council. The council will provide governance, increase the supply of projects, and boost standardized financial contracts to attract market participants.