IFC creates $200m post-Kyoto carbon credit fund

Mohsen Khalil, global head of the IFC's Climate Business Group

The International Finance Corporation (IFC), part of the World Bank Group, has launched a fund aiming to raise up to €150m ($203m) to purchase carbon credits that help reduce greenhouse gas emissions, extend carbon markets, and increase access to finance for projects that promote environmentally friendly economic growth.

The bank will invest up to €15m in the IFC Post-2012 Carbon Facility and mobilise the remainder from European power utilities and energy companies.

Mercuria Energy and Shell Trading have committed to the facility as anchor investors.

The fund will forward-purchase Certified Emission Reductions that are expected to be produced from 2013 to 2020, from projects financed by the IFC either directly or through local banks.

It will ensure that projects can continue to benefit from carbon finance during a period of policy uncertainty in the approach to the end…

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login

Recharge App


Dowload the Recharge Mobile App
Get the free Recharge subscriber app on your device running iOS or Android.
Read Recharge anytime and anywhere.
Recharge IOS App