Carbon Funds

We have advised many of the world’s leading carbon funds on fund establishment (including jurisdictional location) and fundraising, day-to-day operation, tax and securities law issues, carbon procurement and specific multilateral and sovereign government requirements. In particular, we work with:

• The International Bank for Reconstruction and Development (IBRD) on the drafting of its template CER procurement documentation, as well as the establishment and operational and carbon procurement issues for the Prototype Carbon Fund, the BioCarbon Fund, the Community Development Carbon Fund, the Umbrella Carbon Fund, several country-specific funds and currently the Carbon Partnership Facility and Forestry Carbon Partnership Facility
  
  • We continue to assist IBRD on the development and negotiation of its precedent documentation as well as advising them on the particular application of the Kyoto Protocol rules to the IBRD fund structures
  • We also continue to advise the IBRD on its new carbon funds, the Post-2012 Fund and the Avoided Deforestation Fund
• Climate Change Capital's (CCC) special purpose Carbon Funds, with more than USD1 billion under management. In particular, we assisted CCC on the acquisition of more than USD600 million of CERs from two CDM projects in China, which remains one of the largest transactions in the carbon market to date
• The European Carbon Fund on all of their successfully closed transactions since the inception of that fund and working with the establishment of their successor European Kyoto Fund
• The Japan Carbon Fund on the purchase of carbon assets on behalf of the Japan Greenhouse Gas Reduction Fund
• The United Nations Development Programme (UNDP) on the establishment of its Millennium Development Goals Carbon Facility
• The Asian Development Bank and its Asia Pacific Carbon Fund and Future Carbon Fund
• Advised a number of country funds on their legal documents for emission reduction purchase funds, including Austria, Spain and Denmark;
• Peony Capital Carbon Fund (which has the Bill and Melinda Gates Foundation as its founding limited partner)
• Carbon Capital Markets and MTM on the China Methane Fund
• EcoSecurities as procurement manager for the Danish Carbon Facility
• Rabobank-Netherlands CDM Facility, the carbon finance division of Rabobank, which was given a mandate by the Netherlands to purchase 10 million CERs from CDM projects around the world on behalf of the Dutch Government