First Climate AG

3C implements carbon offset for Inter-American Development Bank meetings

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Source: First Climate AG

Frankfurt -  Frankfurt-based international carbon consulting and investment group 3C has concluded a contract to offset the greenhouse gas emissions of two international conferences held by the Inter-American Development Bank (IDB). The emission reductions originate from a micro hydro power plant in Guatemala with a total installed capacity of 165 kW and an average annual power generation of 1,015 MWh. The project will generate Verified Emission Reductions (VER) according to the VER+-standard that was developed by 3C and globally active Munich-based verifier TUEV-Sued. The cooperation between 3C and IDB so far relates to two conferences, “Sustainable Energy and Climate Change in Latin America and the Carribean”, held in November 2006 and “Good Business for All”, held in December 2006. The project will compensate all emissions produced by the participants’ travels as well as the energy consumption at the conferences.

Currently IDB is setting up its carbon finance business. Additionally the bank has launched a carbon neutral initiative that targets carbon finance opportunities in small and sustainable projects. In this context 3C is providing expertise in the global carbon offset and projectbased emissions market. With carbon investment being one of 3C’s core businesses IDB has found a highly competent partner to conduct a chapter in its long-term carbon strategy. Under the roof of 3C Holding AG the 3C Group consists of 3C Markets AG and 3C Consulting GmbH, which are globally active in the fields of emissions trading, carbon offset and carbon investment.

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