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SCC Raises $280 M to Fund Over 40 Carbon Offset Projects

Reuters today revealed through an undisclosed source that the British firm Sindicatum Carbon Capital (SCC) has been successful in raising $280 million to support carbon offset projects on a global scale. Dubai-based Istithmar contributed around 25% of the fund whereas most of the remaining came from US endowment funds and pension funds.

Carbon Offsets Projects Get Funds

SCC previously tried to raise around $300 million in the first quarter of 2008 but the efforts werent really successful due to a declining economy. The current deal, however, is a new sign of hope for the global carbon offsets market.

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