Nov. 18. 2005
Marubeni Corporation has signed a package contract with ICECAP on the purchase of Greenhouse Gas Emission Credits. ICECAP is a British-based general solutions company for measures against global warming. Marubeni will buy emission credits totaling 500,000 tons from ICECAP annually.
1. About the Package Contract
The package contract with ICECAP concerns more than just the purchase of emission credits. The joint development and implementation of the clean development mechanism (CDM) is expected to create synergy for the two partners. The partnership is also aimed at accelerating and improving the efficiency of the development and acquisition of certified emission reduction (CER).
Under the contract, Marubeni is expected to provide roles that include:
- Utilization of the company’s development capabilities,
- Sharing of business risks,
- Funding that includes investment, and
- Marketing in Japan.
The roles of ICECAP are expected to include:
- Development of good CDM, and
- Creation of less costly emission credits.
Marubeni also acquires business entry rights for CDM items that ICECAP possesses. This enables Marubeni to create emission credits.
2: Purchase of emission credits
Under this contract, Marubeni will purchase emission credits worth 2.5 million tons in total consisting of the purchase of 500,000 tons?annually for five years from 2008 to 2012. These emission credits were acquired from CDM items in South Africa, China, India and other countries. CDM ranges widely from the landfill methane gas project, the animal waste methane gas project to the coal mining methane gas project. This enables the company to keep a good sense of proportion in its portfolio.
With the signing of the package contract, Marubeni has assigned a European staff member to Britain and strengthened it affiliation with a European CDM developer that has already established its advantage in the acquisition of emission credits. In this way, Marubeni is committed to the collection of information. To strengthen its focus on China and other Asian areas in improving its development of CDM items, Marubeni is adding more staff members to its sales departments, foreign branches and other specific assignments.
Profile of ICECAP
Location : London, United Kingdom
Capital : 150,000 pounds
Major stockholders: Cumbria Energy, Investicbank, Lesscarbon (Britain) and so on
Established : February 2004