Database Home 
Funds/Funding Links
Background information can be found in the CDM Financing and EU ETS Financing sections of the main T@W website.
Funds can be divided into four main sections:
- Governmental - acquisition programmes
- Governmental - private programmes
- Private climate programmes
- Private funding companies
This section also includes information on:
You can find links for the European Carbon stock exchanges that provide information regarding the price development of the EUA future markets and the spot markets, in the Brokers & Traders section of this T@W database.
Details of project assessment tools that could help in evaluating the financial feasibility of your project can be found in the Energy Studies section of this T@W database.
Governments in order to accomplish their commitments under the Kyoto Protocol have established own funds / tenders. Usually they are not available for the private investors (businesses or financial investors). The aim is to collect the emission credits from the international climate projects in order to comply with the own emission targets.
Here you can find a selection of current programmes:
| Name & Website | Information |
| Austrian JI/CDM Programme www.ji-cdm-austria.at |
The programme purchases the emission reductions from JI and CDM projects. It was started in 2003 and the total purchasing volume amounts to 35 million tonnes CO2. |
| Dutch programme Carboncredits.nl (ERUPT/CERUPT) www.senternovem.nl/carboncredits/ |
This programme purchases ERUs and CERs certificates. The portfolio of Carboncredits.nl holds 23 JI and 4 CDM projects of the total certificated volume of 18 millions tonnes CO2. The financial volumes of the programme amount to 200 millions EUR p.a. |
| Belgian first JI/CDM tender www.climatechange.be |
This tender was launched in 2005 with a budget of 10 millions EUR. The Belgian government is intending to purchase altogether 12.3 millions certificates. |
| Belgian second JI/CDM tender www.climatechange.be/jicdmtender/ |
The second Belgian tender has an initial budget of 22 millions EUR and is aimed at ERUs and CERs. |
| Second Finish CDM Tender formin.finland.fi |
This tender is mostly aimed at CERs from small-scale projects, also at small-scale afforestation or reforestation (tCERs or lCERs) project activities.
Only limited information is available (website in preparation). |
| Swedish CDM and JI Programme www.energimyndigheten.se |
This programme has financial volumes of 23 millions EUR and aims at investing in small and medium sized CDM and JI projects, mainly in the renewable energy and energy efficiency sectors, landfill gas recovery projects that also involve electricity generation. It is planned to invest in all regions to ensure a geographical distribution in the use of the Kyoto based mechanisms. |
This group of programmes regarding the market capitalisation is the largest one. It aims at investors from private sector (financial investors and industrial enterprises), who use the reflux from emission credits for their own target compliance in EU-ETS or sell them for profit-taking. The World Bank funds can be accounted as the precursors for the convenient implementation of the climate projects. To the World Bank funds rank Prototype Carbon Fund (PCF), BioCarbon Fund (BioCF), as well as the national funds (e.g. Italian Carbon Fund, Dutch CDM Facility), which are managed as Public Private Partnership (PPP), in which the governments and businesses can participate.
The Prototype Carbon Fund (PCF) buys the carbon credits from the JI or CDM projects. The financial shares are coming from the governments or businesses, based on the extent of their capital contribution.
The BioCarbon Fund (BioCF) support the projects reducing the GHG emissions in agriculture and forestry, and all kinds of other sink projects. Therefore the BioCF supports mainly the developing and emerging counties, where can be generated the emission credits from land use, land use alteration and forest cultivation (LULUCF) projects.
The Community Development Carbon Fund (CDCF) supports the small projects. It finances the small-scale CDM projects in poorer regions in developing and emerging countries. Especially the social aspects are of main focus. The projects are developed in the following sectors: biogas, small hydropower, wastewater management and use of landfill gas.
Global Environment Facility (GEF)
The Global Environment Facility (GEF) was established as a joint international effort to help solve global environmental problems. The GEF Trust Fund was established by a World Bank resolution on March 14, 1991 while the Facility was formally established in October 1991 as a joint programme between the United Nations Development Programme, UNEP and the World Bank.
More information regarding the Wold Bank funds is available under:
carbonfinance.org and www.worldbank.org/climatechange
Here you can find a selection of current programmes:
| Name & Website | Information |
| KfW Carbon Fund, Germany www.kfw.de/carbonfund |
In mid 2004 KfW Bankengruppe (KfW banking group) has set up a carbon fund in cooperation with the Federal German Government in order to purchase emission credits (ERUs, CERs, EUAs). The financial volumes of the fund amount to 80 millions EUR. |
| DanishCarbon.dk www.danishcarbon.dk |
DanishCarbon.dk is managed by the Danish Ministry of the Environment. The fund is mainly focusing on projects in Central and Eastern Europe. Carbon credits ERUs, CERs and AAUs are of interest. |
| EBRD Multilateral Carbon Fund www.ebrd.com |
Fund of the European Development Bank, the EBRD a is well positioned to purchase the carbon credits (CERs und ERUs) from GHG emission reduction projects for the account of third parties. |
| Baltic Sea Testing Ground Facility (BASREC TGF) www.cbss.st/basrec/ www.nefco.fi |
The Nordic Environmental Finance Corporation (NEFCO) serve as a fund manager for BASREC, as a environmentally specialized institution in financing with the focal point on Eastern Europe (especially Baltic states). |
The private climate programmes are partially launched by international institutions of diverse national banks. The other difference to the above listed fund types is the fact, that they are disbursed in the monetary form on the investors, where the interests are paid on. The reflux is not be carried out in the form of certificates (ERUs and CERs).
Here you can find a selection of current programmes:
| Name & Website | Information |
| European Carbon Fund (ECF) www.europeancarbonfund.com |
The fund was floated in 2005 by Caisse des Depots and Fortis Bank. The financial volumes amount to 142.7 millions EUR. |
| Japan GHG Reduction Fund (JGRS) www.jcarbon.co.jp |
JGRS funds are used to develop greenhouse gas reduction projects and to purchase CERs/ERUs credits for the first Kyoto commitment period (2008-12). Various project sectors as well as different project locations (Asia, Central and Eastern Europe, South America) are of interest. The committed fund amount amounts to 140 millions US$. |
| Greenhouse Gas Credit Aggregation Pool (GG-CAP) www.natsource.com |
This fund was initiated by Natsource Asset Management and possesses financial volumes of 72 millions EUR. It supports projects in the following areas: agriculture, renewable energy, energy efficiency, industrial processes and transport. The regions of interest include Africa, Central Asia, Eastern Europe, Latin America, South-East Asia and Oceania. |
| Luso Carbon Fund www.lusocarbonfund.com Rua Tierno Galvan Torre 3, Piso 9º, Amoreiras 1070-274 Lisbon, Portugal T: + 351 213 816 200 F: + 351 213 816 201 E: geral@lusocarbonfund.com |
Luso Carbon Fund (LCF) is the first Portuguese private Carbon Fund, set up as a closed special investment fund. LCF started operating on 15 December 2006, with 18 corporate investors, including some of the most important Portuguese financial institutions and also compliance buyers, such as industrial companies and the Portuguese Government. The fund, with a target capital of €200M, mainly works in the purchase of carbon credits generated by CDM and JI projects and can also financially support project's implementation, through flexible participation structures Luso Carbon Fund was promoted by Espírito Santo Investment, Banif Investment Banking and FomentInvest SGPS. The fund is managed by Banif Asset Management and Ecoprogresso acts as the investment advisor to the fund. |
Other sources of funding include:
Funds for RES and RUE under cohesion funds 
Funding of CDM and sustainable energy projects
Financial aid for CO2 reduction projects in Lithuania
RWE Power belongs to the RWE Group, one of Europe's leading integrated electricity and gas companies. RWE Power is the continental power generation company within the RWE Group and Germany's biggest power producer. RWE Power is a prime buyer of carbon credits and purchases CERs for its own compliance. Moreover, RWE develops, finances and participates in CDM projects. Thanks to RWE's broad portfolio of energy-related activities, a comprehensive engineering expertise is available in-house. All CDM project proposals are welcome.
www.rwe.com/cdm-ji
World Bank, International Bank for Reconstruction and Development
www.worldbank.org/ibrd
Dresdner Bank AG, Jürgen-Ponto-Platz, 60301 Frankfurt/Main, Germany
www.dresdner-bank.de
kfW Banking group carbon fund in cooperation with the Federal German Government in order to purchase emission credits (ERUs, CERs, EUAs)
www.kfw.de/carbonfund
FutureCamp: Trade of CERs, ERUs
www.future-camp.de
3C: Trade of CERs, ERUs
www.3c-company.com/de/
Spot trade – daily auctions and continuous with OTC clearing Forward contracts
www.eex.de
Just as prices on any other operating market, the CO2 price is ultimately determined by demand and supply. In this case supply stands for the amount of CO2 certificates, which are available for the European Emission Trading Scheme (EU-ETS) and which are allowable for the compliance purposes to installation operators (EUAs, CERs, ERUs). Demand however stands for the emissions in EU-ETS, which need to be covered with the CO2 certificates. Furthermore demand can be influenced through other (international or voluntary) CO2 markets.
In particular the following factors influenced the CO2 price in the first trading period:
- Weather
- Price of combustibles (keyword "Fuel Switch")
- Economic growth
- Political decisions (especially regarding the allocated amounts)
- Availability of CERs
- Banking regulations
- Various trading strategies of various market participants
In the future other factors will be playing a significant role, among which will be in particular:
- Availability of the CERs and ERUs and therewith connected the "indirect globalisation" of the CO2 market
- Activities of the various CO2 markets and their possible linking, as well as the extension of the EU Emission Trading Scheme on other countries
- Consideration of other greenhouse gases as well as other sectors
- New technologies and higher energy efficiency
- Increasing market experience and market depth
PointCarbon
Point Carbon provides independent analysis, forecasting, market intelligence and news for the power, gas and carbon emissions markets.
Carbon Market Info
This website includes news and links to further information.
Carbon Market Data
Carbon Market Data provides specialised information services for the carbon sector. In April 2006 they launched their first product online, the EU Emissions Trading Scheme (ETS) Database. The EU ETS Database is a comprehensive analytical tool, which includes information on all EU ETS installations with their contact details and distributed allowances for 2005 and 2006. Since May 2007, the free version has given access (after registration) to information for twenty-four countries.
CO2e.com
CO2e is a multinational company created to serve as a business-to-business resource for companies to understand, mitigate and manage the transition to a greenhouse gas constrained future.
My Peak Oil
MyPeakOil.org is designed to be an interactive center for current information regarding the peak in global energy supply. The site publishes news and research concerning:
- The current situation and trajectory, such as oil & gas production data, economic or societal clues to decline profiles, and relevant institutional pronouncements
- Innovations or partial solutions to this crisis, such as renewable energy generation capacity and research, alternative financial systems, or post-carbon urban agriculture
- Any other issues which assist our understanding of the broader implications of the peak
