http://www.firstclimate.com/ Latest News en http://www.firstclimate.com//fileadmin/images/assets/rss_icon.gif http://www.firstclimate.com/ 34 34 Latest News TYPO3 - get.content.right http://blogs.law.harvard.edu/tech/rss Thu, 20 Nov 2008 09:00:00 +0100 http://www.firstclimate.com/en/press-events/news-details/article/2008/05/20/30/first-climate-llc-is-founding-reporter-of-the-climate-registry.html Industry Leader Takes Action on Climate Change Contact: Justin Bilow (213) 891-1444 ext. 127 » Download press release as PDF]]> Press Release Tue, 20 May 2008 09:00:00 +0200 http://www.firstclimate.com/en/press-events/news-details/article/2008/05/14/30/first-climate-in-carbon-finance-first-climate-plans-us-carbon-fund.html Carbon asset manager First Climate is planning a carbon credit fund for the US market that will invest in a mix of voluntary emission reductions (VERs) produced domestically and overseas, and... Press Clipping Wed, 14 May 2008 13:40:00 +0200 http://www.firstclimate.com/en/press-events/news-details/article/2008/05/02/30/first-climate-in-point-carbon-kyoto-carbon-credit-buyers-need-post-2012-agreement-for-price-guidanc.html Companies and funds looking to buy carbon credits generated by Kyoto protocol emissions reduction projects need a post-2012 agreement on climate-changing gases to ensure sufficient long-term price... Price range The current price range for post-2012 carbon credits generated by CDM projects is about €5.50-€7.50 ($8.51-$11.60) per tonne of carbon dioxide equivalent, according to Urs Brodmann, chief risk officer and member of the executive board of First Climate, a carbon asset management company. “The price range really depends on the quality of the project,” he said. Brodmann pointed out that a higher premium would be paid for projects offering higher delivery certainty or environmental and social side benefits. “Generally, the volume of trades involving a firm offtake obligation for the buyer is today quite small compared to the volume of trades in Kyoto vintages,” he said. Still, Brodmann said that the future development of the post-2012 CER price range largely hinges on the outcome of international climate negotiations in December 2009. “December 2009 will be the earliest date when an agreement can be adopted, and then any agreement will need to be ratified, which could still take some years,” Brodmann said. “We don’t expect the (post-2012 CER) price range to change much in the near term,” he said, adding that “we see ourselves as an important driver of demand so the price range will be supported.” First Climate, as investment adviser, together with Conning Asset Management Ltd, manage a €125 million, post-2012 carbon credit fund, which is supported by the European Investment Bank (EIB) and four European bank partners. The fund will purchase and trade Kyoto protocol carbon credits from 2013 to 2022. “The most important thing for project developers to remember when deciding how to handle their post-2012 volumes is that they need a reliable counterparty, which is likely to be around post-2012,” said Ecosecurities' Barker. “Ecosecurities is already signing contracts which last up to 2017, as we have every intention of being a large player in the market for years to come. However, not all counterparties may be able to sustain their business model this long,” she added. ]]> Press Clipping Fri, 02 May 2008 11:51:00 +0200 http://www.firstclimate.com/en/press-events/news-details/article/2008/04/28/30/first-climate-in-bloomberg-european-investment-bank-boosts-size-of-post-2012-emission-fund.html The European Investment Bank, the lending arm of the European Union, boosted the size of a fund to curb emissions after 2012 by 25 percent to 125 million euros ($195 million).
The Post 2012 Carbon Credit Fund will invest in developing renewable energy, carbon dioxide capture and energy efficiency projects, generating tradable emission credits starting 2013, potentially the first year of a new international climate- protection agreement. The 1997 Kyoto Protocol has a compliance period of the five years through 2012.

"Uncertainty over the form of any post Kyoto carbon credit trading regime is currently making it difficult for environmentally worthwhile projects to monetize fully the economic benefits of the emission reductions they may make after 2012,'' the statement said.

The fund will be managed by a consortium of Conning Asset Management (Europe) Ltd., a unit of Swiss Reinsurance, and First Climate, an emissions project developer and fund manager based in Bad Vilbel, Germany.

]]> Press Clipping Mon, 28 Apr 2008 19:01:00 +0200 http://www.firstclimate.com/en/press-events/news-details/article/2008/04/28/30/first-climate-in-point-carbon-eib-ups-size-of-post-2012-carbon-credit-fund.html The European Investment Bank (EIB) has raised the size of a post-2012 carbon credit fund by 25 per cent to €125 million ($195 million) and today named the managers of the fund.
The fund will be managed by a consortium of Conning Asset Management Ltd and First Climate. Launched last year with an initial pledge of €100 million, the fund will purchase and trade carbon credits generated by greenhouse gas emissions reduction projects after the Kyoto protocol’s first commitment period ends in 2012. The fund will support a variety of emissions reduction projects, such as renewable energy, energy efficiency, forestry and methane capture from 2013 to 2022. “By assuming the inherent regulatory risk, the fund will give a clear signal to the market of the EIB and its partners’ confidence in the development of a post Kyoto regime while directly supporting environmental projects,” the statement said.

The Kyoto protocol obliges rich nations with a cap on six greenhouse gas emissions to reduce emissions on average by some 5 per cent below the 1990 level in the period 2008-2012. Due to the uncertainty of a future international climate agreement, the fund will purchase post 2012 carbon credits of UN-endorsed emissions reduction projects, namely clean development mechanism (CDM) and joint implementation (JI).

“As 2012 is approaching, the uncertainty in long-term prices for carbon is increasingly affecting project developers,” said Urs Brodmann, executive board member of the fund’s investment adviser, First Climate. “The Post 2012 Carbon Credit Fund will make additional CDM and JI projects viable by offering guaranteed carbon off-take at attractive prices,” he said in the statement. The 27-member EU bloc is the biggest buyer of Kyoto protocol carbon credits. “As the EU’s financing arm, our role is to support these efforts by promoting environmental lending and developing carbon credits,” said Philippe Maystadt, president of EIB.]]> Press Clipping Mon, 28 Apr 2008 18:48:00 +0200 http://www.firstclimate.com/en/press-events/news-details/article/2008/04/28/30/first-climate-in-reuters-eib-banks-launch-200-million-post-2012-carbon-fund.html The European Investment Bank, along with four European banks, have launched a 125 million euro ($195.8 million) carbon fund which will invest exclusively in carbon emission credits to be issued after... Press Clipping Mon, 28 Apr 2008 10:51:00 +0200 http://www.firstclimate.com/en/press-events/news-details/article/2008/04/23/30/first-climate-among-top-providers-in-ends-report.html First Climate (previously 3C and Factor) receives praise for its excellent offset pipeline and value-added services.
With more than ten years of carbon market experience, First Climate can look back on developing and commercializing more than 160 projects across all continents. With offices in Germany, France, England, Switzerland, the United States, Chile and China, First Climate has extensive expertise in originating and procuring CDM/JI and VER projects. The company is involved in the entire carbon credit value chain: from the development of emission reduction projects to the issuance and commercialization of certificates. All compensation projects offered by First Climate fulfill the highest quality standards. As a proponent of quality projects with additional social and environmental benefits, First Climate is the main sponsor of the Gold Standard version 2.

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First Climate combines the competence and expertise in project and methodology development from Factor AG and the financial savviness in carbon credit commercialization and the climate neutral expertise of 3C. As a vertically integrated player covering the entire carbon credit value chain, First Climate is among the leading companies in the dynamic carbon markets. First Climate facilitates the development, financing and implementation of CDM, JI and VER projects. First Climate offers custom trading and risk management solutions for companies within the EU ETS, and supports the structuring and development of carbon funds. First Climate is among the world's leading companies for climate neutral services and offers high quality emission reduction credits from a global portfolio. Contact
First Climate
Fritz Wilhelm
Head Corporate Communications
Tel.: +49 (0)6101 - 5 56 58 - 34
Fax +49 (0)6101 - 5 56 58 - 77
E-Mail:fritz.wilhelm@firstclimate.com
www.firstclimate.com » Download press release as PDF]]> Press Release Wed, 23 Apr 2008 09:00:00 +0200 http://www.firstclimate.com/en/press-events/news-details/article/2008/04/16/30/first-climate-in-carbon-finance-3c-and-factor-name-merged-company.html European carbon companies 3C and Factor Consulting + Management have announced a new name for their post-merger business – First Climate. 3C merges with Factor). First Climate said it will build on its founders' reputations and “intends to become the first name in project financing”. It noted that its carbon investment advisory team is expected to announce a major deal within the next few weeks. 3C co-founder Markus Hüwener takes the role of chief executive at the new company. Urs Brodmann and Thomas Stettner, co-founders of Factor, become chief risk officer and chief operating officer, respectively. The business has 80 employees, most of which will be based at Bad Vilbel near Frankfurt, Germany, and in Zurich, Switzerland, with other offices in China, Chile and the US. link to original article]]> Press Clipping Wed, 16 Apr 2008 11:00:00 +0200 http://www.firstclimate.com/en/press-events/news-details/article/2008/04/14/30/first-climate-in-point-carbon-factor-consulting-and-3c-merge.html Carbon finance consultancies Factor Consulting and 3C, which is also known as The Carbon Credit Company, today announced that they have merged to form one company under the name of First Climate. London]]> Press Clipping Mon, 14 Apr 2008 11:00:00 +0200 http://www.firstclimate.com/en/press-events/news-details/article/2008/04/14/30/first-climate-in-bloomberg-carbon-permits-advance-to-10-month-high-as-gas-jumps-to-record.html European Union emission permits rose to a 10-month high as U.K. natural gas prices reached a record, making the clean-burning fuel potentially less profitable for power utilities. Press Clipping Mon, 14 Apr 2008 10:58:00 +0200 http://www.firstclimate.com/en/press-events/news-details/article/2008/04/14/30/3c-and-factor-become-first-climate.html Combining existing expertise in various market areas, the new company expands its global presence as well as its lines of business. 3C - The Carbon Credit Company and Factor AG announced today that they have joined forces to provide integrated carbon asset management services, positioned to take the lead in continental Europe.

Under the name First Climate, the new company combines the competence and expertise in project and methodology development from Factor AG and the financial savviness in carbon credit commercialization and the climate neutral expertise of 3C. As a vertically integrated player covering the entire carbon credit value chain, First Climate is among the leading companies in the dynamic carbon markets.

“We have developed new business lines to stay ahead of the rapidly growing carbon market and at the same time compliment our existing business portfolio”, says CEO Markus Hüwener about First Climate’s future plans.

Already known as one of the prime climate neutral providers and carbon fund advisors, First Climate intends to become the first name in project financing. With extensive experience in structuring carbon focused financial investments, the company offers innovative investment solutions for owners of and investors in emission reduction projects by tapping both conventional as well as specific carbon financing sources. First Climate has a comprehensive track record in financial advisory and financial management and an outstanding reputation as an experienced full service carbon market service provider.

First Climate’s Carbon Investment Advisory Team is expected to announce a major deal within the next few weeks.

The Project Origination Department is one of the largest teams within First Climate, spanning across four continents being operational in more than 25 countries. The diverse cultural and professional background of First Climate’s currently 80 staff members is mirrored in the diversified and comprehensive portfolio of CDM and VER projects.

“Now it's time to show the market that First Climate is more than the sum of Factor and 3C. We are carbon market movers”, said Hüwener at the company’s inception event.

To find out more about the new company, please visit the new website at www.firstclimate.com.

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First Climate is a fully integrated Carbon Asset Management company covering the entire carbon credit value chain. As a buyer, intermediary and investment advisor, First Climate identifies emission reduction opportunities worldwide and facilitates the development, financing and implementation of CDM, JI and VER projects. First Climate offers custom trading and risk management solutions for companies regulated under the EU ETS and other emission trading compliance schemes. The Carbon Investment Advisory Team supports fund managers in the structuring and development of carbon funds, and with related investment decisions. Furthermore, First Climate is a first-class provider of climate neutral services, such as corporate climate neutral strategy development, corporate carbon footprint assessment, climate neutral marketing and IT-communications solutions, and the purchase and retirement of high quality emission reduction credits from a global VER project portfolio. Contact First Climate
Fritz Wilhelm
Head Corporate Communications
Tel.: +49 (0)6101 - 5 56 58 - 34
Fax +49 (0)6101 - 5 56 58 - 77
E-Mail: fritz.wilhelm@firstclimate.com
www.firstclimate.com » Download press release as PDF ]]> Press Release Mon, 14 Apr 2008 09:00:00 +0200 http://www.firstclimate.com/en/press-events/news-details/article/2008/03/31/30/3c-in-business-news-americas-entrevista-con-3c-group.html Arturo Brandt Rivas, María Ana González, Francisco Avendaño gerentes de proyecto senior, 3C Group Press Clipping Mon, 31 Mar 2008 12:26:00 +0200 http://www.firstclimate.com/en/press-events/news-details/article/2008/03/13/30/3c-in-reuters-russia-takes-rejection-stance-on-kyoto-projects.html Foreign firms seeking to make money in Russia under the Kyoto Protocol will not have an easy time getting approval from the Russian state, the official in charge of Kyoto implementation in Russia... Press Clipping Thu, 13 Mar 2008 14:37:00 +0100 http://fileadmin/downloads/press/pc/2008/PC_2008_03_Carbon_Finance.pdf German carbon asset manger 3C is in talks with the Singapore Stock Exchange and investment banks with a view to launching a listed carbon fund later this year. Press Clipping Wed, 05 Mar 2008 15:23:00 +0100 http://fileadmin/downloads/press/pc/2008/PC_2008_03_Trading_Carbon.pdf It was never going to be easy for the European Commiccion to please everyone with its proposals for reforming the EU Emissions Trading Scheme. Press Clipping Wed, 05 Mar 2008 10:20:00 +0100