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Fiji, World Bank Ink Forest Carbon Trading Agreement (Int'l.)
Fiji,Forest Carbon Partnership
Date: 2021-01-29
In the South Pacific, Fiji has become the only Small Island Developing State in the Pacific to enter a carbon trade under a 5-year emissions reduction payment agreement with the Forest Carbon Partnership Facility, a global partnership at the World Bank. The facility will unlock $26 million in results based payments for increasing carbon sequestration and reducing emissions from deforestation and forest degradation.

The Forest Carbon Partnership Facility (FCPF) is a global partnership of governments, businesses, civil society, and Indigenous Peoples focused on reducing emissions from deforestation and forest degradation, forest carbon stock conservation, the sustainable management of forests, and the enhancement of forest carbon stocks in developing countries, activities commonly referred to as REDD+. The FCPF works with 47 developing countries across Africa, Asia, and Latin America and the Caribbean, along with 17 donors that have made contributions and commitments totaling $1.3 billion. The FCPF supports REDD+ efforts through its Readiness and Carbon Funds.

Fijian Minister for Economy Aiyaz Sayed-Khaiyum noted "The emission reduction program area includes forest protection, planting and ustainable management of over 37,000 hectares spread over 20 districts on the islands of Viti Levu, Vanua Levu and Taveuni, with the potential to expand to other areas that express interest. The contracted volume of greenhouse gases that Fiji is expected to sequester from these forest activities in the next five years is 2.5 million tonnes, for which a result-based payment of $12.5 million will be paid upon verification by the World Bank."(Source: FBN News, 27 Jan., 2021) Contact: Forest Carbon Partnership Facility, www.forestcarbonpartnership.org

More Low-Carbon Energy News World Bank,  REDD+,  Forest Carbon Partnership,  Fiji,  Carbon Trading,  Reforestation,  Carbon Emissions,  Climate Change ,  


Quantifi to Support Carbon Cap Investment Strategies (Int'l.)
Quantifi,Carbon Cap Management
Date: 2020-11-25
Quantifi, a provider of risk, analytics and trading solutions, reports it has been selected by London-headquartered environmental asset management specialist Carbon Cap Management LLP to support its carbon emissions investment strategies. Carbon Cap's mission is to raise awareness about climate change and to provide solutions directly related to the capping and reduction of CO2 emissions.

Carbon Cap recently launched the World Carbon Fund, a globally diversified fund investing in multiple liquid and regulated carbon markets. The fund pursues an absolute return strategy, seeking to deliver positive returns with a low correlation to traditional and alternative asset classes. It also seeks to have a direct positive impact on climate change.

Quantifi's suite of integrated pre- and post-trade solutions allow market participants to better value, trade and risk manage their exposures and respond more effectively to changing market conditions. (Source: Quantifi, PR, 25 Nov., 2020) Contact: Carbon Cap, Michael Azlen, Founder and CEO, +44204 5265 480, investorinfo@carbon-cap.com, www.carbon-cap.com; Quantifi Solutions, Rohan Douglas, CEO, (212) 784-6815 -- NY, +44 (0) 20 7248 3593 -- London, www.quantifisolutions.com

More Low-Carbon Energy News Carbon Market,  Carbon Cap Management,  Carbon Emissions,  CO2,  


Zero Carbon Fund Set to Invest £1.5Mn (Int'l. Report)
Zero Carbon Fund
Date: 2020-08-19
Havant, England-headquartered Zero Carbon Fund Ltd reports that after raising more than £1.5 million over the last 6+ months it is now moving into investment mode.

The company aims to invest in ten EIS-eligible start-ups with breakthrough ideas that can scale to reduce greenhouse gas emissions by at least half a gigaton per year in some of the big unsolved problem areas in the climate space, such as energy storage, cooling, food & agriculture, industrial heat and carbon capture.

Zero Carbon Capital delivers the fund in partnership with Sapphire Capital Partners and aims to accelerate the development and commercialization of hard science solutions to the most pressing issues of climate change.

The Zero Carbon Fund is an EIS fund investing in early-stage companies on a mission to address climate change through technology innovation. The company invests in ambitious teams with breakthrough ideas that can scale to reduce greenhouse gas emissions by half a gigaton per year and deliver long-term value, according to its website. (Source: Zero Carbon Fund, PR, 18 Aug., 20200 Contact: Zero Carbon Capital, Zero Carbon Fund, Pippa or Alex Cawley, info@zerocarbon.capital, www.zerocarbon.capital; Sapphire Capital Partners, www.sapphirecapitalpartners.co.uk

More Low-Carbon Energy News Zero Carbon Fund,  GHGs,  Low-Carbon Energy,  


AirCarbon Touts New Digital Carbon Credits Exchange (Int'l Report)
Carbon Credit, AirCarbon Pte
Date: 2019-11-01
In Singapore, AirCarbon Pte Ltd. reports its newly launched global blockchain-based AirCarbon Exchange will provide a ready supply of credits (EEUs) to airlines and other corporate buyers wishing to acquire CO2 offsets for compliance and voluntary purposes.

These credits, when approved, will be eligible under the International Civil Aviation Organization's (ICAO) Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) regime. Each tradable token will be backed by one equivalent tonne of CORSICA-compliant, highly liquid and tradable carbon credits. AirCarbon is applying for the recognized market operator (RMO) licence from the Monetary Authority of Singapore, and aims for the exchange to be fully operational in 2020.

AirCarbon also operates the AirCarbon Fund, an investment fund which invests in carbon-mitigating projects such as reforestation, methane capture and carbon emissions reduction. Through these projects, the fund intends to generate CORSIA-compliant tradable carbon offsets, which will then be listed on the exchange. (Source: AirCarbon Pte, Business Times, 30 Oct., 2019) Contact: AirCarbon Pte Ltd., www.aircarbon.com

More Low-Carbon Energy News Carbon Credit,  EEUs,  Carbon Offset,  ICAO,  


Ghana, World Bank Deal to Cut Deforestation, CO2 Emissions (Int'l)
World Bank
Date: 2019-07-15
In Accra, the World Bank (WB) has announced an agreement with the Ghana Forestry Commission to address the role of deforestation and forest degradation on climate change. Under the agreement, the World Bank five-year Emission Reductions Payment Agreement (ERPA) will reward community efforts to reduce carbon emissions from deforestation and forest degradation. Ghana is the third country to initiate the deal.

The Emission Reductions Payment Agreement (ERPA) with the Forest Carbon Partnership Facility (FCPF) carbon fund, is administered by the World Bank and unlocks unlocks performance-based payments of up to $50 million for carbon emission reductions from the forest and land use sectors.

Under the ERPA, the FCPF carbon fund commits to making initial results-based payments for reductions of 10 million tonnes of CO2 emissions. The agreement also specifies on carbon emission baselines, price per ton of avoided CO2 emissions, and a benefit-sharing mechanism. Ghana's emission reductions programme area covers 1.2 million hectares of forest reserves and national parks.

In Ghana, forest degradation and deforestation are driven primarily by cocoa farm expansion, coupled with logging and a recent increase in illegal mining. (Source: World Bank, Ghana News Agency, 10 July, 2019) Contact: Ghana Forestry Commission, Kwadwo Owusu Afriyie, CEO, +233 30 240 1210, www.fcghana.org; World Bank Group, www.worldbank.org

More Low-Carbon Energy News World Bank,  Climate Change,  Carbon Emissions,  Deforestation,  


BP $100M Fund Looking to Reduce Upstream Emissions (Ind. Report)
BP
Date: 2019-03-29
London-headquartered oil giant BP plc is touting its $100 million Upstream Carbon Fund designed to further reduce greenhouse gas (GHG) emissions in its upstream oil and natural gas operations and to generate "sustainable emissions reductions" across its operations.

In 2018, BP set near-term and specific CO2 reduction targets in an initiative aimed at advancing an "energy transition" from long-term use of fossil fuels and to cut an estimated 3.5 million metric tons (mmt) of emissions from operations between 2016 and 2025. Between 2016 and 2018, the company estimated it had generated 2.5 mmt of sustainable emissions reductions throughout its businesses.

The new Upstream Carbon Fund is additional to the estimated $500 million a year spent by BP on low carbon investments, venturing activities and its alternative energy business. (Source: BP, NGI 27 Mar., 2019) Contact: BP, www.bp.com/en/global/corporate/contact-us.html

More Low-Carbon Energy News BP,  Carbon Emissions,  Climate Change,  


EIB Funds Semi-Submersible Platform Offshore Wind Project (Int'l)
European Investment Bank,EDP Renováveis
Date: 2018-10-24
The European Investment Bank (EIB is reporting a € 60 million loan to Portuguese energy giant EDP Renovaveis subsidiary Windplus S.A. for the construction of a first-of-its-kind, semi-submersible platform offshore floating wind farm to be located about 20 km off the coast of Portugal.

The project will also be supported by the InnovFin Energy Demonstration Project facility, which is funded under the EU's Horizon 2020 research and innovation programme , and an additional €29.9 million from the EU NER300 programme, plus up to €6 million from the Government of Portugal, through the Portuguese Carbon Fund.

Until 2020, "InnovFin -- EU Finance for Innovators" offers a range of tailored products which will make available financing in support of research and innovation (R&I) by small, medium-sized and large companies and the promoters of research infrastructures. (Source: European Investment Bank, EDP Renewables, 19 October, 2018) Contact: EIB, www.eib.org; Windplus SA, www.offshorewind.biz/tag/windplus; EDP Renovaveis, www.edpr.com

More Low-Carbon Energy News European Investment Bank,  Wind,  EDP Renovaveis,  Repsol,  Windplus S.A,  

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