Dear Reader,
Welcome to the website of European Carbon Fund (ECF), the first private carbon fund based in Europe. ECF was co-sponsored and launched in 2005 by CDC Climat (Caisse des Dépôts’ subsidiary dedicated to combating climate change) and BNP Paribas-Fortis Bank.
ECF regroups fourteen institutional investors from eight countries. It mobilizes private capital to finance greenhouse gas emission reduction projects within the framework of the Kyoto Protocol’s Clean Development Mechanism (CDM) and provides European industry with additional flexibility to meet its emission reduction targets.
In the context of the recent Durban summit on climate change, which concluded on a positive note with the prospect of further emission reduction commitments and the extension of the Kyoto Protocol until 2017, ECF has underlined its continuing commitment to combat climate change by announcing the registration by the United Nations of its 25th CDM project. The fund has structured and directly purchased emission reductions worth 67 million tons of CO2 equivalent up to 2012. This represents close to 2% of the global emission reduction target fixed by the Kyoto Protocol.
Through its geographically and technologically diversified portfolio of high quality projects, the fund therefore contributes to the global fight against climate chance and the reduction of local pollution.
ECF also contributes to local development where its projects are based: its portfolio has generated more than €500m of investments in developing countries. These funds allow for new infrastructure investments and the upgrading of existing installations while transferring technology and creating local employment.
The pioneering role played by ECF demonstrates the effectiveness with which private sector investments can support public policy in the fight against climate change.
Laurent Piermont
Chairman of the Board of Directors
