European donation for carbon asset fund

News Article - 01 September 2008
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Natsource has announced that an as-yet unnamed European energy company has injected €20 million (£16.6 million) into its Carbon Asset Pool (NAT-CAP).

This means that the fund is now over halfway towards reaching its €200 million (£162 million) target.

"We are pleased to add another participant to NAT-CAP," said the pool's portfolio manager, Egbert Liese.

"This commitment brings us closer to meeting the pool's €200 million target.

"The response to this new product has been very encouraging and we believe NAT-CAP will be successful in providing our six participants with cost effective carbon credits."

NAT-CAP is a greenhouse gas compliance product which aims to assist businesses with reducing their carbon emissions in line with the EU Emissions Trading Scheme.

Natsource announced in June that it had initial commitments of €46 million (£37.3 million), and participants in the pool include Eneco, Edison and Union Fenosa among others.

This is the second product by the company which aims to help businesses reduce their emissions after the Greenhouse Gas Credit Aggregation Pool which was established in 2005.

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