Release date: 9 May 2007
Promoter – Financial Intermediary
(1) Purchase Side - Individual projects and companies generating carbon credits from their activities and whose investments will be supported by the Fund, i.a. in the fields of renewable energy, energy efficiency, forestry and waste management including methane capture and from which the Fund will contract for the purchase of carbon credits.
(2) Sale Side – Those compliance and other purchasers whose need carbon credits to meet future compliance obligations under the EU ETS.
(3) The EU ETS Regulatory System – The Fund’s activities will support the EU ETS regulatory system pre and post-2012.
Location
Description
The proposal involves the establishment of a carbon credit fund, that will acquire Carbon Credits generated by the mitigation, prevention, reduction and/or sequestration of GHG emissions in the period 2013-22 (i.e. after the second phase of the ETS and the Kyoto Protocol commitment period) and which would qualify for inclusion in the EU Emissions Trading Scheme.
Objectives
Comments
Environment
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
EUR 150 million
Environmental aspects
Each project will also be required to meet the environmental and social standards of EIB.
Procurement
The Fund will have an obligation that requires that the promoters of projects supported by the Fund to ensure that contracts have been tendered in accordance with the relevant EU and / or national legislation, including publication of tender notices in the Official Journal of the EU, as and where appropriate.
Status
Signed - 20/03/2008
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).