From Kyoto to CDC Climat
The long-term commitment of Caisse des Dépôts Group
The long-term commitment of Caisse des Dépôts Group
Signing of the Kyoto Protocol, which defined greenhouse gas emission reduction targets for industrialised countries and the means to achieve them.
Caisse des Dépôts Group conducts a study of the new opportunities and needs created by the Kyoto Protocol.
Mission Climat is set up within the Caisse des Dépôts Group to evaluate its possible role in implementing the financial instruments provided for by the Kyoto Protocol but whose realisation remains uncertain.
December: A European policy agreement to set up a European Union CO2 emission trading scheme covering the energy and industry sectors, which will be formally established by an EU Directive in October 2003.
Caisse des Dépôts presents its pilot national registry to manage greenhouse gas allowances and credits. France, along with United Kingdom, is the only European country to possess an operational technology.
Caisse des Dépôts launches the structuring of a carbon credit investment fund.
October: Russia ratifies the Kyoto Protocol, enabling it to come into force on February 16, 2005.
The European Union Emission Trading Scheme comes into force.
Caisse des Dépôts is ready to support the EU ETS :
March: launch of the European Carbon Fund
April: 9 countries adopt Seringas software for their national carbon registries
May: launch of the allowance trading exchange Powernext Carbon, a partnership between Euronext and Caisse des Dépôts.
Publication of the Stern Report which evaluates the cost of climate policies to limit global warming to 2°C at 2%-5% of global GDP per year.
Supported by the work of Mission Climat of Caisse des Dépôts, the French government, like other European countries, launches “domestic offset projects” mechanism to encourage industry sectors that are not covered by the EU ETS (i.e. transport, building, agriculture, small industry), to reduce their carbon emissions.
Publication of the 4th IPCC Report.
Caisse des Dépôts acquires the start-up Sagacarbon, the 1st independent European brokerage specialising in carbon assets.
Caisse des Dépôts launches a call for domestic offset projects. It commits to support carbon project developers and buy the carbon credits generated by their projects.
Opening of the 1st period of Kyoto Protocol application, which runs until 2012, and the beginning of the second phase of the EU ETS, which covers the same period.
January: Creation of BlueNext, the European carbon allowance and credit exchange/), owned in a partnership between NYSE Euronext (60%) and Caisse des Dépôts (40%).
March: Mission Climat of Caisse des Dépôts, Massachusetts Institute of Technology (MIT) and University College Dublin publish a preliminary analysis of the performance of the EU ETS during its first three years of operations (2005-2007).
April: Launch of the Post-2012 Carbon Credit Fundinitiated by EIB, with the backing of KfW, Caisse des Dépôts, ICO and NIB, long-term investors able to assume the uncertainty of the post- Kyoto period.
December: Adoption by the European Union of the Energy-Climate package, which defines European climate policy from 2013 to 2020.
Launch of the first carbon fund in Morocco. Created on the initiative of Caisse des Dépôt and Gestion du Maroc, the Fonds Capital Carbone Maroc (lien vers page portefeuille d’investissement du site) is the first carbon fund in French-speaking Africa. The capital of FCCM is contributed by CDG (50%), Caisse des Dépôts (25%) and EIB (25%).
Launch of the RGGI, the allowance trading system established by 10 states in the Northeast of the United States, covering the energy sector.
Proposal of the Waxman-Markey Bill to set up a federal allowance trading systemin the United States.
January: Caisse des Dépôts launches of REI (Registry Electronic Interface)), a platform for trading flows with the National Registries of allowances, intended for carbon market players.
March: Launch of Caisse des Dépôts’ VCS Registry),an essential registry to guarantee the quality and reliability of the VCS international standard in the emerging voluntary carbon credit market, a market that needs to be structured and professionalised. The VCS registry of Caisse des Dépôts covers one third of the market.
July: Caisse des Dépôts acquires a stake in Metnext/), an information service provider that helps company managers take random climate events into account in their planning and decision-making.
December: the Copenhagen Conference ends with a policy agreement called the “Copenhagen Accord.”
Creation of CDC Climat, a subsidiary of Caisse des Dépôts, dedicated to the fight against climate change.
January: CDC Climat launches Global carbon portfolio (GCP), a suite of services designed for carbon units holders, providing a centralized and consolidated accountancy of all the carbon units held in several registries for all standards.
June: CDC Climat takes initiative of the Mediterranean Carbon Fund project, alongside with other European long term investors.
July: CDC Climat wins, with its partner SFW, contract to deliver a unified system for EU ETS Sectors including Aviation in the UK. CDC Climat and SFW also plan to work in partnership with other EU Member States and their government agencies in order to adapt the application to their own needs and requirements, under the name of Emissaire.
September: CDC Climat launches a subsidiary specialised in carbon asset management CDC Climat Asset Management, to which it entrusts a €60 m management mandate.