Rialto Markets today announced a long-term platform partnership with Rubicon Carbon, LLC (“Rubicon”), a newly launched market-based products and solutions platform built to help lead the next generation of the carbon market. Rubicon is funded by an initial capital commitment of $300 million from TPG Rise Climate, TPG’s dedicated climate investing strategy, and TPG’s multi-sector impact investing strategy, The Rise Fund. Rubicon was developed to deliver greater scale, confidence, and innovation across all facets of the carbon market and meet the growing demand for end-to-end, high-integrity emissions reduction solutions.
In addition to investment from leading climate investors, Rubicon is led by an experienced management team who bring deep expertise in business building, markets, sustainability, and carbon finance.
As Rubicon seeks to channels capital to unlock at-scale decarbonization projects and deliver enterprise-grade solutions for carbon credit purchases, the company selected Wall Street-based Rialto Markets, a FINRA member broker-dealer, to serve as the technology provider for its issuance.
Rubicon’s initial product, the Rubicon Carbon Tonne (“RCT”), provides enterprise customers access to proprietary sets of both nature-based and non-nature-based carbon credits. RCTs are backed by a Rubicon-owned inventory of high-quality, verified, broadly diversified carbon credits, which, at Rubicon’s launch, amount to 20 million tonnes of CO2e.
“We are delighted to have signed a long-term agreement with Rubicon Carbon to provide a range of technologies enabling the purchasing of RCTs,” said Joel Steinmetz, COO and Co-founder of Rialto Markets. “Rubicon Carbon will leverage Rialto Markets’ industry-leading primary markets technology and infrastructure to enable institutions to purchase a variety of carbon products.
“In order to offer our solutions at enterprise scale, integrity and confidence must be at the core of our platform. Rialto Markets created a bespoke solution to enable the purchase of our new product, Rubicon Carbon Tonnes, to be trusted and seamless. We are thankful for their partnership as we bring further innovation to one of the market’s critical decarbonization tools,” said Tom Montag, CEO of Rubicon Carbon.
“Rialto Markets actively seeks to participate in ESG (environmental, social and governance) initiatives, so we are excited and proud to be involved with Rubicon Carbon and its mission to drive decarbonization for enterprises across industries and around the world,” said Shari Noonan, CEO and co-founder of Rialto Markets.