The Operational Review of NEFCO’s climate finance investments in 2011, has been published today. The review shows that, despite a collapse in the global price on carbon, NEFCO’s Carbon Finance and Funds (CFF) operations undertook an unprecedented level of project related activity during 2011, principally related to the Clean Development Mechanism.
In addition, NEFCO’s Carbon Finance and Funds Department has made progress on its technical assistance and market readiness activities, notably in the area of Nationally Appropriate Mitigation Actions with programmes launched in Peru and Viet Nam.
The NEFCO Carbon Fund (NeCF), which closed with financial resources of EUR 165 million, has been active in sustainable energy investments in Eastern Europe, Asia and Latin America. New projects have been signed in India, Southeast Asia and China. The Nordic Climate Facility (NCF) supporting mitigation and adaptation actions for the poorest countries operated jointly with the Nordic Development Fund (NDF), finalised 8 agreements for interventions in Asia, Africa and Latin America, and launched a third round of requests for proposals.
In total, approximately EUR 230 million of climate funds are currently managed by the CFF Department of NEFCO.