News and information giant Thomson Reuters has agreed to acquire Oslo-based environmental market data and analytics provider Point Carbon A/S for an undisclosed sum.
The deal follows the media titan’s acquisition of Swiss-based environmental, social and governance consulting firm ASSET4 in November last year and comes amid a wave of consolidation in the broader environmental data and consulting sector.
The purchase follows arch rival Bloomberg’s acquisition of New Energy Finance, a London-based news and data service for renewable energy and carbon markets, last December. In April Richard Sandor’s Climate Exchange was sold to IntercontinentalExchange.
Privately-held Point Carbon was founded in 2000 and provides content on the power, gas and CO2 emissions market and organises conferences, events and training.It has 137 staff and offices in Washington, London, Tokyo, Beijing, Kiev, Hamburg, Zürich and Malmö. It’s headed by chief executive Per Otto Wold, former managing director of energy broker Natsource Tullett Europe.
Thomson Reuters cited estimates that the global carbon market could grow to $3trn by 2020, from $128bn currently. The physical carbon market has seen compound annual growth of 80% since the Kyoto Protocol came into force in 2005.
The deal would help it to “deliver the critical information and tools to allow market participants to optimize their business, investment and trading strategies in this evolving marketplace”. Among Point Carbon’s 30,000 clients are banks, traders, portfolio managers, corporations and governments.
Point Carbon’s content will be available on the new Eikon platform set to be launched later this year.