BNP Paribas and Vnesheconombank (VEB) have signed a framework agreement for cooperation on the development of carbon projects under the Joint Implementation scheme.
Under this agreement BNP Paribas and VEB will jointly identify projects eligible to the UNFCCC’s Joint Implementation and Clean Development Mechanism schemes, cooperate on assessing carbon-specific risks and revenues and arrange the financing of such projects.
“This agreement reinforces BNP Paribas’ strategy and leading position in Carbon Finance. It will drive our two leading institutions to share their knowledge and expertise on this fast growing Carbon market and we expect that numerous projects will emerge in 2008 and further on,” says Georges Chodron de Courcel, COO, BNP Paribas.