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Asia Pacific Carbon Fund

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About
The Climate Cent Foundation held a stake of 25 million US$ in the Asian Development Bank (ADB)’s climate protection fund “Asia Pacific Carbon Fund (APCF)”, which was endowed with a total 151 million US$. Next to the Climate Cent Foundation, APCF participants included the governments of Finland, Spain, Sweden, Portugal, the Belgian region of Flanders and Luxemburg. In order to grant the APCF greater flexibility and assist it in fully investing its funds, the Foundation also signed a promissory note of 2.5 million US$, which the APCF could use to enter additional agreements and thus hedge delivery risks.

A climate protection fund is a procurement scheme for the purchase of project-based certificates. The sourcing of certificates is handled by the fund operator, who concludes direct purchase agreements with the owners of climate protection projects. The resulting certificates are distributed to fund participants according to their respective investment share.

Outcome

At the last count, the Asia Pacific Carbon Fund had concluded 49 agreements for the delivery of CERs stemming from 71 projects. 38 of these projects are located in India, 18 in China, 6 in Thailand and others in Bangladesh, Georgia, Indonesia, the Philippines and Uzbekistan. The projects cover the following activities: 35 wind power plants, power plants in the fields of hydroelectricity, solar power, biomass and geothermal energy, as well as landfill gas, waste management and energy efficiency. 60 of these projects produce electricity with an overall power of 1.9 GW. Agreements with a further 14 projects were cancelled over the years. Some agreements were fulfilled by the delivery of certificates stemming from replacement projects, which is why the fund’s final portfolio comprised 76 projects.

A total of 2‘693‘883 CERs were delivered to the Foundation. The average cost per certificate was 9.59 US$. 142‘269 CERs derived from the use of the Foundation’s promissory note, which was drawn on for 0.84 million US$. For more Information please go to the site: www.adb.org/projects