IFC has signed its first carbon delivery guarantee agreements that will help boost the carbon market in Sub-Saharan Africa and South Asia. The new carbon finance product will give companies that sell carbon credits the chance to access a wider range of buyers by mitigating country and project risk.
In South Africa, IFC's agreement covers carbon credits from Omnia, one of the country's leading fertilizer producers. In India, the agreement covers carbon credits from Rain CII Carbon, an IFC client for over 15 years that is the world's largest merchant of calcined coke.
The new carbon delivery guarantee is an integral part of IFC's climate change strategy, through which IFC helps its clients maximize their potential for clean energy, including by generating carbon credits.
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Published on March 19, 2008
