NEFCO is setting up a new global carbon procurement facility to procure greenhouse gas emission reduction credits from projects eligible under the Kyoto Protocol. The new fund, to be called the NEFCO Carbon Fund (NeCF), is directed at private investors, which have compliance obligations under the EU Emission Trading Scheme (EU ETS) and sovereign investors who are participants in the existing Kyoto fund managed by NEFCO, the Baltic Sea Region Testing Ground Facility (TGF).
The fund will place its capital in projects developed under the Joint Implementation and Clean Development Mechanisms. It will also consider procuring Kyoto compliant credits from the post-Kyoto period, 2013 onwards that are be eligible for the EU ETS.
“The NeCF will build upon the experience and networks gained through the administration of the TGF. We hope it will assist companies and Governments in the Nordic region to meet their climate change obligations, and also play a role in catalysing post 2012 investment”, said NEFCO’s Managing Director Magnus Rystedt.
Read more about the New Global Carbon Fund
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