One man’s money-draining bet on climate change

ELEVEN years ago Dharsono Hartono, a former JPMorgan Chase & Co banker, spotted what he thought was a new way to make a fortune: climate change.

The plan was to snap up rain forest in Borneo, preserve it from logging and sell carbon credits to big polluting companies in the developed world. The earth’s temperature was rising, and this was a way to profit by confronting the problem.