Ex-Goldman Banker Teams Up With Lawyers to Target CO2 Market (1)

As buyers and sellers of carbon credits grapple with signs of a shrinking market, others are seizing the moment.

Jim Bunch, a former managing director at Goldman Sachs Group Inc., has teamed upwith law firm Linklaters and London nonprofit Scope 3 Climate Capital to help develop and promote an alternative to carbon credits. The group says it’s in talks with a number of multinationals in industries ranging from technology to steel production.

The goal is to reduce private-sector reliance on carbon credits as a way to meet net zero pledges. Bunch, who co-founded US-based climate consulting ...