Reference: 20100720
Release date: 16 May 2011

Promoter – Financial Intermediary

Althelia Climate Fund GP Sarl, an independent management company established to manage the Fund.

Location

Description

Innovative pilot fund for forest based carbon and other environmentally certified credits, aiming to protect the environment and reduce carbon emissions through sustainable land use and conservation of primary forest.

Objectives

The Althelia Climate Fund (the "Fund") is a path breaking proposal to enhance the environment and reduce carbon emissions through support for sustainable land use and conservation of primary forest. European based, the Fund is global, focusing on Africa and Latin America, and secondarily in Asia. With a target of EUR 150m of commitments from private and public investors the Fund will invest in some 20 projects to source forest based carbon and other environmentally certified credits for sale to the voluntary offset market. An amount of voluntary forest carbon credits corresponding to EIB's investment will be sold by the Fund to (public or private or philanthropic) entities that will permanently retire them.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 25 million

Total cost (Approximate amount)

EUR 150 million

Environmental aspects

Strict due diligence standards are in place up to the EIB standards. All projects are set to meet IFC Performance Standards and the best practices articulated in the REDD+ Social and Environmental Standards. All projects will meet most reputable third-party carbon and environmental/social management certification standards such as Verified Carbon Standard and Climate, Community and Biodiversity Alliance.

Procurement

The promoter, a private company, is not subject to EU Directives on procurement.

Status

Signed - 11/06/2013

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

Regional - Africa Regional - Asia Regional - Latin America Agriculture, fisheries, forestry