Note that carbon credits are a zero-value asset unless by government fiat they are declared to have some value. In the absence of global warming legislation and cap-and-trade schemes, this company's portfolio is worth nothing. Only the lobbying by Gore and his "non-profits" can make it have value.Interestingly, this carbon credit portfolio also has zero value even under alternative CO2 reduction alternatives, such as a carbon tax. Under a carbon tax, there is much less opportunity for rent-seeking by powerful people like Gore, and carbon credit portfolios are worthless. Interestingly, Gore proposed a US carbon tax 15 years or so ago. My guess is that he would no longer support a carbon tax, as it would bankrupt many of his investments.
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