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Vattenfall Carbon FundP.O. Box 41920, 1009 DC AmsterdamThe NetherlandsT +31 (0)88 098 54 97The Vattenfall Carbon Fund (VCF) is the central marketaccess for Clean Development Mechanism (CDM) and JointImplementation (JI) projects for the Vattenfall Group. Founded100 years ago, Vattenfall is one of Europe’s largest generatorsof electricity, with a generation portfolio including hydro,nuclear, lignite, hard coal, wind, natural gas, oil, geothermal,photovoltaic and biomass. One of Vattenfall‘s strategicambitions is to be Number One for the Environment. Climatechange resulting from emissions of carbon dioxide andother greenhouse gases is one of the greatest environmentalchallenges of our time. Vattenfall‘s strategic focus here ison Making Electricity Clean. By eliminating the emissions ofgreenhouse gases from the operations VCF intends to becomeclimate-neutral. As a prime buyer and end user of CO 2 emissionreductions, VCF is interested in technically and operationallysound projects. We source and procure carbon credits fromCDM/JI projects from all over the world. Based on our longexperience in the CDM/JI market, we have established solid andlong-term relationships with project developers and owners.The Vattenfall Carbon Fund– is the market access of the Vattenfall Group for CDM/JIprojects– purchases credits from emission reductions projects withtraceable origins to fulfil Vattenfall’s ambitious climate targets– is placed within the international set-up of Vattenfall EnergyTrading– has access to emission trading capacities and a highlyprofessional Credit and Legal support– combines competencies of a highly experienced team withover 30 projects registered and 10 methodologies developedby the team members– includes a member of the UNFCCC CDM Small ScaleWorking Group– is managed by a team based in Amsterdam46
Michael BerendsMichael.berends@vattenfall.com5 Law FirmsDe Brauw Blackstone WestbroekClaude Debussylaan 80, 1082 MD AmsterdamP.O. Box 75084, 1070 AB AmsterdamThe NetherlandsT +31 (0)20 577 17 71www.debrauw.comamsterdam@debrauw.comDe Brauw was one of the fi rst law fi rms in the world to becomeactive in climate change and carbon fi nance. We started backin 2001, by assisting the Dutch State in setting up carbon funds,and have been advising a broad range of international clientsever since. Our work comprises all legal and policy aspects ofcarbon transactions and projects, and we are at the forefrontof developments under the Kyoto Protocol, the EU EmissionsTrading Scheme and other regional, national and voluntaryframeworks.As one of the pioneering law fi rms in this innovative fi eld, DeBrauw advises companies, utilities, fi nancial institutions, NGOs,development banks and governments on greenhouse gasemissions trading, emission reductions purchase agreements,cooperation contracts, settlement arrangements, projectset-up and organization, as well as fi nancing, regulatory andtax aspects and trading platforms. In a number of internationaltransactions we work together with leading fi rms in otherjurisdictions and coordinate the involvement of local lawyers.On a national level, we advise and represent several majoroperators in matters relating to the allocation of emissionallowances and compliance under the EU ETS.De Brauw is actively involved in discussions with policy makersand regulators on matters ranging from implementation ofinternational regulations to development of new policies.Our carbon practice has grown substantially over the last fewyears and the team is now located in our Amsterdam, London,New York and Beijing offi ces. De Brauw is an active member47
Page 1: TheNetherlands:CarbonExperts
Page 4 and 5: Contents1 Introduction 62 Why the N
Page 6 and 7: 1 IntroductionThe Netherlands is no
Page 8 and 9: 2 Why theNetherlands?The Netherland
Page 10 and 11: 2.2% 1.8% 1.7%0.0% 0.0%The cost of
Page 12 and 13: The Holland Financial MapThe map sh
Page 14 and 15: 3 The DutchApproach:Holland Financi
Page 16 and 17: 4 EffectiveDutch CarbonPartnership
Page 18 and 19: Cool nrg as borrower, ING Commercia
Page 20 and 21: 5.2 Executive SummaryFrom Pigou and
Page 22 and 23: …resulting in pricing of carbon e
Page 25 and 26: assessed in a more indirect way. Th
Page 27 and 28: Global versus local regulation- How
Page 29 and 30: Amsterdam InbusinessWeesperstraat 8
Page 31 and 32: MissionECF promotes climate and ene
Page 33 and 34: Ministry of FinanceDutch State Trea
Page 35 and 36: Research DepartmentDuisenberg schoo
Page 37 and 38: ever CDM Programme of Activities (L
Page 39 and 40: Tim van der Noordt, Managing Direct
Page 41 and 42: management services for project own
Page 43 and 44: maintenance, carbon credits and fi
Page 45: SN Power’s mission is to invest i
Page 49 and 50: fl exible mechanisms (i.e. the Clea
Page 51 and 52: Rik MellenberghT +31 (0)20 541 98 5
Page 53 and 54: Roland de Vlam, Senior Associate, r
Page 55 and 56: 6 ConsultantsAccentureAccenture is
Page 57 and 58: In partnership with our clients (pr
Page 59 and 60: Charlotte Streck, Director, PolicyT
Page 61 and 62: We support corporate clients to inc
Page 63 and 64: In a carbon-restricted economy carb
Page 65 and 66: and see to it that the fund will be
Page 67 and 68: United TrustWTC, Tower A, 4th Floor
Page 69 and 70: Index who is who33 Asset Management

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