First Climate, a Frankfurt based developer of clean-energy projects, seeks 100 million euros ($136 million) from investors for a new fund, Martin Schulte, a director at First Climate said in a telephone interview today from Luxembourg Its first contract for post-2012 credits may be signed in the next three months, Schulte said.

Power stations and factories in the European Union’s cap- and-trade program are starting to demand offsets to meet emissions targets from 2012 through 2020. The United Nation’s Clean Development Mechanism awards credits that can be used in the EU system in exchange for funding of emission-reduction projects in developing nations.


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Source: http://www.businessweek.com/news/2010-03-09/first-climate-seeks-136-million-for-carbon-credits-after-2012.html