Bank of America originally announced, in July 2007, that it would set up a joint venture with Climate Exchange to further develop the bank’s carbon trading platform, while taking 0.5% of the issued share capital of the exchange group. The venture was to be structured so that the bank could take up to $25 million in Climate Exchange stock, depending on revenues generated.

However, a joint statement issued this week stated that, while Bank of America will continue as an investor in Climate