Law firm Clyde & Co makes carbon credits a balance sheet asset in innovative deal
"For the first time, sustainability professionals can confidently walk into the CFO's office with an investment proposal, not an expense request."
UK law firm Clyde & Co has signed an agreement to buy 10,000 carbon removal credits per year from 2038 in an innovative deal that considers the investment as a balance sheet asset rather than an expense.
The five-year deal with carbon credit firm Nature Broking will see Clyde & Co make forward purchases of insured carbon removals as balance sheet assets. This shifts the initiative from a profit-and-loss expense to a long-term investment, with the expected increase in carbon credits prices representing profitability.
