The global carbon markets are emerging as a new financial asset class, driven largely by government and corporate net-zero commitments. RBC is a longstanding leader in the carbon markets and renewable energy procurement as the first Canadian bank to launch an environmental commodities desk in 2008 and the first Canadian financial institution to execute a renewable energy power purchase agreement (PPA). By partnering with ClearBlue Markets and establishing an Environmental Markets Solutions Group, RBC will offer bespoke solutions to clients looking to operationalize their net-zero targets through carbon offsets and renewable energy instruments.
On March 21, 2023, ClearBlue Markets Holding ("ClearBlue Markets"), a leading global carbon markets company, announced it had raised $8 million as part of its Series A financing led by Royal Bank of Canada ("RBC"). The investment will deepen ClearBlue Markets experience in financial markets and is aligned with RBC's climate strategy of supporting its clients in the transition to net zero.
ClearBlue Markets provides carbon markets services to hundreds of clients worldwide, helping them optimize their strategies for compliance requirements and voluntary net zero ambitions through its deep advisory expertise and AI enabled technology. The company is headquartered in Canada with a European office in the Netherlands, and offers a range of services, including market analysis, capacity building, carbon strategy, and transaction facilitation. Today, it boasts an impressive 200+ client portfolio that spans local, multinational, and blue-chip companies, including CRH, Mercuria, JD Irving, Bain Capital Partnership Strategies, Mitsubishi, Energir and VARO Energy.
RBC supports some of Canada's most innovative companies by delivering experience, networks, and capital to help solve some of the biggest challenges our communities and economies face. “RBC recognizes that climate change is a global challenge, and companies like ClearBlue Markets can play an important role in addressing it effectively," says Barrie Laver, Managing Director, Head of Venture Capital & Private Equity, RBC. "Adding ClearBlue Markets and its technology platform to our portfolio is aligned with RBC's climate strategy and will in turn provide our clients with additional access to advisory services and technology needed to support their transition to a more sustainable future.
“Reaching net-zero by 2050 will require many different tools and the environmental markets can play a powerful role in supporting our clients’ climate ambitions,” says Lindsay Patrick, Managing Director and Head of Strategic Initiatives and ESG for RBC Capital Markets. “Our new Environmental Markets Solutions Group and partnership with ClearBlue Markets will provide expansive solutions and differentiated advice to help clients navigate this important but complex ecosystem”
About ClearBlue Markets
ClearBlue Markets is a technology-enabled carbon markets company simplifying and creating confidence for companies when they access environmental financial markets to meet carbon compliance or net zero goals. Through ClearBlue's deep practical expertise and integrated set of products and solutions - including carbon compliance and offset strategy development, carbon market policy and risk assessments, demand and supply analysis and price forecasting for offsets, carbon credits and renewable energy credits, transaction facilitation, and offset development - our clients confidently achieve their carbon reduction and net zero ambitions.
