ALTHELIA CLIMATE FUND (FMO-48029)

Regions
  • Africa
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 27, 2013
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Sectors
  • Climate and Environment
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 18.97 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 14.67 MLN
Converted using 2013-05-27 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Nov 25, 2020


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Project Description

Althelia Carbon Fund is a new fund with a target size of EUR 150 mln. The fund is aiming to invest in carbon emission reduction projects in the forestry sector that generate carbon credits. The fund will originate, accredit and bring to market carbon offsets primarily from projects in Africa (40%) and Latin America (40%). The fund mainly targets forest carbon (60% or more), although opportunistic commitments to other projects will be considered provided they also have undisputable positive social and environmental impact.

FMO's investment will allow the fund to reach a first close and subsequently attract follow-up funding from other development finance institutions and commercial investors.

 

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

Project contacts not provided at the time of disclosure.

 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism