Taylor Wessing advises carbon emissions group ICECAP on carbon portfolio

17-Jan-2006  |  Banking & Finance, Corporate
 

Taylor Wessing's environmental finance team has advised ICECAP, the carbon emissions group, on the first closing of its carbon portfolio having raised aggregate commitments of 15 million tonnes. 

ICECAP Carbon Portfolio will source and manage a portfolio of worldwide carbon credits on behalf of its participants.   The initial participants are ENEL Trade S.p.A., Marubeni Corporation and Public Power Corporation S.A.

This latest transaction continues the development of this practice area, in which Taylor Wessing has been increasingly active for the past two years.  Our environmental finance practice brings together environmental, finance and commercial lawyers with substantial experience in the carbon emissions trading sector.  Other clients in this sector include Climate Exchange Plc, Trading Emissions plc and Carbon Capital. 

Finance partner, Dominic FitzPatrick, comments:

"The past couple of years have been an exciting time to be involved in the dynamic emissions trading market.  We advised ICECAP from the outset on the formation of this innovative product and are delighted that the value of ICECAP has been recognised by such leading corporates as ENEL, Marubeni and PPC."

Ends

Notes to editors

  • In Spring 2005, Taylor Wessing advised Trading Emissions plc on its admission to the Alternative Investment Market (AIM) of the London Stock Exchange, creating the world's    largest investment fund in emissions assets.
  • Also in Spring 2005, Taylor Wessing advised on the establishment of the first carbon dioxide emissions trading exchange in Europe for Climate Exchange Plc, whose shares are traded on AIM.
  • In February 2004, Taylor Wessing advised ICECAP Limited on the development of an innovative product for hedging against carbon emissions liabilities under the new EU Emissions Trading Scheme (EU ETS) and other similar schemes deriving from the Kyoto Protocol.