02 June 2007, The Economist

Trading thin air

In this week's Economist, Emma Duncan cites CCC as an example of how the carbon market is facilitating investment in the developing world:

"Developing-country CERs accounted for about euro4 billion of last year's trade: 562m tonnes of CO2. According to New Carbon Finance, a research company, carbon funds worth $11.8 billion have been raised so far. Half of that total is managed from London."

" Climate Change Capital, a niche investment bank, raised $130m for its first carbon fund, launched in July 2005; its second, launched a year later, is now worth around $1 billion. According to Tony White of Climate Change Capital, all the money for the first came from hedge funds, which like risk. By the time the second fund was established, more cautious investors, such as pension funds and banks, were prepared to put money into it."

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