State Street has launched a new solution called the State Street Carbon Asset Servicing Solution to help asset managers and owners integrate carbon-related assets such as credits and allowances into portfolios, making it easier to trade and manage them. The launch of the new solution comes amid a rapid growth in the market for carbon-related assets, with approximately 12.5 gigatons of emissions traded last year, and industry estimates predicting a 15x increase in demand for carbon credits between 2021 and 2030. The solution is expected to help companies meet their net zero ambitions and balance difficult-to-avoid emissions, as well as support governments' cap-and-trade industry carbon allowance systems.

Source: ESGToday