European Banks Establish a Post-2012 Carbon Credit Fund
28 April 2008: Five European public financing institutions have established a EUR 125 million Post-2012 Carbon Credit Fund.
The European Investment Bank-EIB (EUR 50 million), Caisse des Dépôts (EUR 25 million), Instituto de Crédito Oficial-ICO (EUR 10 million), KfW Bankengruppe (EUR 25 million) and Nordic Investment Bank-NIB (EUR 15 million) have created the Fund to exclusively purchase and trade carbon credits generated in the post-Kyoto period, potentially up to 2022.
By assuming the inherent regulatory risk, the Fund seeks to give a positive signal regarding development of a post-Kyoto regime, while directly supporting environmental projects. The new fund will acquire post-2012 carbon credit streams of projects already approved, or to be approved, by the UNFCCC's Clean Development or Joint Implementation Mechanisms.
European Investment Bank press release, 28 April 2008