Geneva, Switzerland – June 3rd, 2011 – As one of the anchor investors, Mercuria Energy Group is pleased to participate in the International Finance Corporation (IFC) Post-2012 Carbon Facility that has now become operational.
The aim of the fund is to help reduce greenhouse gas emissions, extend carbon markets, and increase access to finance for projects that promote environmentally friendly economic growth.
The Facility will forward purchase Certified Emission Reductions (CERs) expected to be produced from 2013 to 2020 from projects directly financed by IFC or by local banks financed by IFC. This will ensure that projects can continue to benefit from carbon finance during a period of policy uncertainty as we approach the end of the first commitment period under the Kyoto Protocol in 2012. The fund will provide a longer-term high-quality carbon revenue stream and increase financing options for projects that reduce emissions.
Paul Chivers, Mercuria Energy Group Chief Investment Officer, said:
“This is a very positive development for Mercuria’s Global Carbon Strategy and expresses our long term business commitment to promote climate related investments. We are pleased to support the IFC as a lead investor in this project”.
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