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TFS Green, an award-winning broker in the environmental markets, is delighted to announce its appointment as joint exclusive Seller’s Representative to the Asian Development Bank (ADB) under the bank’s Carbon Market Initiative.
The Carbon Market Initiative includes the Asia Pacific Carbon Fund (APCF), which was launched by the ADB on 1 May 2007. ADB manages the fund on behalf of its participants, and has since received commitments of US$151.8 million from countries including Belgium (on behalf of the Flemish Region), Finland, Luxembourg, Portugal, Spain, Sweden and Switzerland.
The fund provides upfront co-financing to Clean Development Mechanism (CDM) projects in the bank's developing member countries in exchange for the future delivery of Certified Emission Reductions (CERs), or carbon credits.
TFS Green will assist ADB-financed projects by selling the portion of credits not purchased by the APCF (typically around 50% of the total volume). TFS Green is part of Tradition, a leading interdealer broker, and has won a number of awards for its services within the environmental markets.
Lucy Mortimer, Global Manager of TFS Green’s CDM & JI Business, says: "We are delighted to have been chosen by the ADB to help them and their clients access the global market. Their work closely mirrors the core values we adhere to at TFS Green, and we strongly believe that the synergies between the two companies will serve to encourage CDM projects throughout ADB’s developing member countries."
