BofA Calls Out Liquidity Barriers as Bankers Await CO2 Deal (1)

In the market for carbon credits, a game-changing global deal looks closer than ever, according to Bank of America Corp.

“We may be on the verge of seeing a breakthrough,” said Abyd Karmali, managing director, environmental business advisory at Bank of America.

Karmali is among senior bankers specialized in trading carbon who’ll be monitoring talks in Azerbaijan this month, where the COP29 climate summit will be held. There, negotiators will try to move closer to an agreement to let countries trade carbon reductions with other nations and corporations, under a framework known as Article 6.4.

“It’s a really ...