Credit Suisse To Offer CO2 Deal Worth About $200 Million
Paul Ezekiel, Credit Suisse’s head of carbon trading, told a conference this week that the bank will offer a structured carbon emissions deal next month worth about $200 million. According Ezekiel, the deal is the largest structured carbon transaction ever done from a volume perspective, Reuters reports (via Forbes).
The deal involves 11.5 million tons of U.N.-certified carbon offsets, also known as certified emission reductions (CERs), which are generated from 25 emissions-reduction projects in China, India and Brazil.
Bidding on the deal will begin in November. The deal will be divided into three non-guaranteed tranches, with Credit Suisse retaining a 25 percent stake divided equally among the tranches.
The sold-out auction is a good sign for the Western Climate Initiative, which recently unveiled a draft of its 2012 cap-and-trade program.
Energy Manager News
- Behind the Meter Podcast: A New Metric for Datacenter Cooling
- The Advantages of Metal Roofs
- PACE Loan Program in Pulaski County, AK
- Online Tool Introduced in Vermont
- SWL&P Looks to Increase Electric Revenues by Over $2 Million
- Schneider Electric’s NEO Network: Helping Make Efficiency Projects Real
- Efficiency Project Complete in Meriden, CT
- BuildingIQ Makes 2 Moves