Brown Rudnick, a premier international law firm, congratulates its client, the European Bank for Reconstruction and Development (EBRD), and the European Investment Bank (EIB), on the successful launch of
their Multilateral Carbon Credit Fund (MCCF). The firm is proud to have assisted EBRD and EIB in the creation of the MCCF, the only carbon fund dedicated to countries across Central Europe and Central Asia. Fund participants include six countries – Belgium (on behalf of Flanders), Finland, Ireland, Luxemburg, Spain, and Sweden — and six private companies in the region.
In June 2006, Brown Rudnick was selected as counsel to the EBRD to assist it in the formation of the MCCF, to aggregate carbon credits from emission reduction projects financed by both EBRD and EIB. The firm’s Climate & Energy Group served as special counsel to the EBRD, assisting in various phases of the project, including the formation of the fund.
Under the MCCF, projects will span industrial energy efficiency, power plant and district heating renovation, renewable energy (such as bio-mass, wind and mini-hydro), and landfill gas extraction and utilization projects across all 29 EBRD countries of operation, and where the EIB also works extensively.
About EBRD and EIB
The European Bank for Reconstruction and Development (EBRD), owned by 61 countries and two intergovernmental institutions, aims to foster the transition from centrally planned to market economies in countries from central Europe to Central Asia. For more information, please visit www.ebrd.com.
The European Investment Bank (EIB) is the financing institution of the European Union supporting its policies. Established in 1957, it operates within the 25 EU members States and in more than 130 counties outside. For more information, please visit www.eib.org.
