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20080613_The Seminar on the EIB KfW Carbon Progamme - Feedback

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					The Seminar on the EIB/KfW Carbon
      Programme – Feedback
     Luxemburg the 4th of March 2008



                    Małgorzata Dusza
                    Director of the Financial
                    Institutions Department
                    Bank Ochrony Środowiska S.A.
General information

   The seminar took place on Tuesday 4 March
    2008 at EIBs headquarters in Luxembourg
   More than twenty representatives of Club
    Members attended at the seminar.
   Two representatives of European
    Commission took part as observers
   Given presentations referred to two themes:
    –   general issues on climate change, the Kyoto
        Protocol and European Trading Scheme,
    –   EIB/KfW Carbon Programme
General information

   Ad. Climate Change, The Kyoto Protocol and the EU
    ETS.
    –   Kyoto Protocol mechanisms and the EU ETS as business
        drivers for financial institutions
    –   EIB Funds as examples of effective utilisation of
        opportunities in field of climate change

   Ad. EIB/KfW Carbon Programme
    – EIB/KfW Carbon Fund - initiative designed to help non
      trading SMEs in cost - effective carbon market participation
    „non trading SME” – SME without carbon trading capacity
Characteristics of The EIB/KfW Carbon
Programme

   It is a programme for acquiring GHG emission
    reduction certificates ERU and CER
   arising from projects based mechanisms of the Kyoto
    Protocol (JI/CDM)
   Purchase of Kyoto certificates from 2008 to 2012
   Programme Volume: € 100 million
   KfW is managing the programme
   EIB as a co-sponsor jointly underwrites all risks
    assumed
    Who can participate?


   Participation is limited to eligible buyers – European
    corporate entities who have compliance obligations
    under the EU ETS and intermediaries acquiring on
    behalf of pooled corporate entities,
   Presumably the majority of the buyers are non-trading
    SMEs
   Minimum commitment threshold – 500 000 € for
    individual buyer
   Maximum commitment level – 10 000 000 for
    individual buyer
Bundling


   Due to low demand per SME bundling is
    allowed,
   Financial institutions could play an important role
    in facilitating access of SMEs to the Carbon
    Fund
   Banks can join the Programme as intermediaries
    acting on behalf of non – trading, bundled SMEs.
   Higher level of commitment is accepted up to 15
    Million €
Benefits for buying SMEs



   Cost-effectiveness
    –   no capacity and knowledge expenditures,
    –   cost reduction due to standardised procedures,
   Purchase of low risk carbon credits,
   Fund takes delivery risk for SMEs,
   Fixed price on future delivery,
   Meeting likeminded SMEs
Benefits for intermediaries


   Closer cooperation with Club Members,
   New item in products portfolio,
   Added value service for regular clients,
   Flow of EIB’ and KfWs experience and know-
    how
       Hint of the day 


   Banks interested in acting as
intermediaries for their SME clients
 should act quickly now to register
     their interest with KfW/EIB

				
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