MSCI has this week signed a purchase agreement to acquire Trove Research, a specialist data, analysis and advisory firm. The move reinforces MSCI’s commitment to “drive clarity around climate investing through high quality, innovative data and insights,” it said.
Trove Research – which was founded in 2015 – offers intelligence across carbon markets combining deep sector knowledge with proprietary data and cutting-edge models. Since 2020, the company has focused exclusively on tracking corporate climate commitments and providing high quality data and insights into the voluntary carbon market through a single, unified platform.
Henry Fernandez, chair and chief executive officer of MSCI, said: “The voluntary carbon market has a key role to play in helping the world achieve net zero emissions while helping our clients navigate the transition.”
Integrating Trove Research’s significant position in the global carbon credit market with MSCI’s climate solutions will help accelerate MSCI’s goal to offer expanded climate solutions and meet identified needs from corporates, institutional investors and other capital market participants for transparent, credible insights on voluntary carbon markets, it said.
The deal will allow MSCI to deliver additional products to the broader carbon market ecosystem, including banks, exchanges and developers. MSCI will be positioned to offer insights into a company’s transition plans, the quality of existing carbon credits, and the carbon credit pricing outlook, it added.
“By combining these tools with our integrated franchise, diverse client base, and wide range of capabilities, MSCI will strengthen its position as a leading provider of climate-related investment solutions,” Fernandez noted.
Guy Turner, CEO of Trove Research, added: “Trove’s mission has always been to use data and analysis to help facilitate better investment decisions. Combining Trove’s deep carbon market data and analytics with the scale and breadth of MSCI’s sustainability and financial data will allow us to create truly world-leading climate solutions and bring real value to clients.”
The terms of the transaction were not disclosed and the financial impact of the transaction is not expected to be material to MSCI. The transaction is expected to close this quarter, subject to customary closing conditions. Trove Research’s financial results will be presented as part of MSCI’s ESG & Climate reportable segment.
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