CDC Climat Asset Management
A new long-term investment manager in high-quality carbon assets
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CDC Climat Asset Management is a specialized manager of long-term investments in the primary carbon markets. Set up in 2010, the company is owned by CDC Climat (75%), which is part of the French public sector financial institution Caisse des Dépôts and Proparco, a subsidiary of AFD (French devleopemnt agency). The company is registered under French law and regulated by the AMF (French financial regulatory body).
CDC Climat Asset Management currently manages a €60 million investment mandate from CDC Climat, €30 million from AFD Group and is seeking to develop other mandates. The company is managed by Guido Schmidt-Traub, CEO, and Marianne Paris, Deputy CEO.
At present CDC Climat Asset Management invests in primary carbon credits from high-quality emission reduction projects that seek registration under the Clean Development Mechanism (CDM ), Joint Implementation (JI ), the Voluntary Carbon Standard (VCS) or the Gold Standard. Projects must make substantial contributions to sustainable development and meet the highest quality standards. As a result CDC Climat Asset Management invests only in projects that abate carbon dioxide and methane emissions. CDC Climat’s mandate excludes all industrial gases.
CDC Climat Asset Management focuses particularly on Africa and the Mediterranean region, but can invest in all other regions that qualify for CDM or JI projects. With a view towards promoting the long-term development of the carbon markets it is also an active investor in the domestic carbon markets in France and other parts of Europe.
Typical investment targets will have a minimum size of 50,000 tCO2e per year and can be substantially larger. As necessary CDC Climat Asset Management can syndicate investments with other investors. CDC Climat Asset Management is willing to sign long-term off-take agreements beyond 2012 and partner with project developers and governments to manage regulatory and price risks associated with primary carbon credits in the most efficient manner.