The Climate Change Investment Funds

Climate Change Investment I and II (CCI I and II) are investment companies designed to take advantage of the investment opportunities in the growing carbon markets. As a private placement of shares, their objective is to generate long-term capital growth for investors. The investment companies are incorporated under Luxembourg law as SICARs (Societé d’Investissement en Capital à Risque) and are registered with the Luxembourg Financial Supervisory Authority (CSSF). The shares in the SICARs can only be subscribed by qualified investors, i.e. either institutional investors, professional or experienced investors. The companies are structured to exist until 2013 with a limited possibility of extension beyond that date.

The two CCIs seek to achieve superior returns for their investors by originating, structuring and commercializing carbon assets. They aim to balance investment risks and rewards through the combination of investment activities in a diversified portfolio of project-based emission reduction certificates and, to a lesser extent, in trading carbon allowances. CCI II also allows for equity involvement in emission reduction projects.

Both funds are proving attractive to project developers and owners because they offer fair and flexible pricing structures, project equity involvement (CCI II only), methodology support and procedural assistance. The funds are renowned as reliable buyers, as they are subject to Luxembourg’s financial supervisory authority. First Climate as investment advisor and administrator to the funds brings its global network of legal, technology and policy experts to bear as well as its extensive number of local carbon development experts based in offices around the world.