Climate Change Capital hires FD for investor drive

Climate Change Capital (CCC), the merchant bank set up last year to take advantage of climate regulation, has launched a comms push to attract investors.

The bank has hired Financial Dynamics following a three-way pitch involving incumbent marcoms group Carbon International.

CCC co-founding director James Cameron said it had hired FD to help it raise the capital it needed to prepare for next year’s allocation of carbon emission allowances.

From 1 January 2005, emission allowances will be allocated to 12,000 energy and industrial installations accounting for 46 per cent of the EU’s CO2 emissions.

Cameron added that Carbon International would continue to work for CCC on a project basis, mostly on public affairs. ‘FD’s appointment is a very pleasing development,’ said Cameron. ‘It is very experienced in the corporate finance and VC worlds where we need to be known and understood.’

Cameron would not rule out a stock-market listing of CCC or putting the firm up for sale to a bigger investment bank interested in advice to firms whose activities, value and investments are affected by policy and market responses to climate change.

CCC targets the emissions-trading, renewable-energy and clean-energy markets, and early this month worked on the £13m AIM listing of bio fuels business D1 Oils.

At the end of October, CCC subsidiary Climate Change Advisory used FD to launch Ventus, the first venture capital trust to invest in wind farms. FD worked with CCC co-founder Mark Woodall on the launch of the trust, which hopes to cash in on the Government’s plans to generate significantly more electricity from renewable sources.

Carbon trading, CCC’s other major market, was given a boost last month when the Russian government said it would ratify the Kyoto Treaty on climate change. Russia’s agreement to the environmental deal has triggered the introduction of global international regulations from 2008.

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