orbeo in 2010
Regulatory changes and the lack of visibility after 2012 weighed on the carbon market in 2010. Clarifications are nonetheless expected at the start of 2011, notably regarding the European Commission’s proposals to prohibit CERs from certain projects in the EU ETS (European market) in the 3rd Trading Period (2013-2020). Volumes traded in 2010 remained stable on 2009 at approximately 5 Gt.
orbeo nonetheless continued to develop its carbon credits range and was chosen by the World Bank to act as dealer for the sale of 570,000 tons of certified emission reductions on behalf of its Adaptation Fund. orbeo was also selected as a primary participant by the Dutch government for its EUA (carbon quotas) auction in April 2010.
orbeo remains present on the world’s major carbon-trading platforms, acting for example as a market-maker on the BlueNext platform for futures EUA (European Union Allowances) contracts.
As part of its origination activities, orbeo was also part of a consortium (alongside FCCM, Africa’s first carbon fund created by the Caisse de Dépôt et de Gestion in Morocco and P12, the Post 2012 Carbon Credit Fund supported by the European Investment Bank, the Caisse des Dépôts, the Instituto de Crédito Oficial, KfW Bankengruppe and the Nordic Investment Bank) which signed a pre- and post-2012 agreement to purchase 2 million tons of carbon credits with the Moroccan Utility Office, the Office National de l’Electricité (ONE). The carbon credits will be generated by a 140 MW wind power project - the largest operational wind farm in Africa – in the north of Morocco. The consortium will manage this carbon credit programme following an international tender process launched by the ONE for the sale of carbon credits. Under this agreement, the Consortium will handle the project’s registration process under the United Nations Framework Convention on Climate Change (UNFCCC), and will purchase the pre- and post-2012 Certified Emission Reductions (CERs*) generated by the project.
