OREANDA-NEWS. Frankfurt and Moscow Dresdner Bank AG and Gazprombank announced the proposed launch of a joint venture entity to invest in the rapidly developing carbon emissions trading market.

The joint venture will invest in primary projects generating CO2 certificates through the mechanisms of the Kyoto protocol with a view to repackaging these credits for resale to investors on a secondary market basis.

The Carbon Trade & Finance SICAR S.A. will be a 50:50 joint venture incorporated in Luxembourg as a SICAR. The application to the Luxembourg regulator CSSF will shortly be filed. The joint venture was already approved by the EU Commission on 19 December.

The joint venture, which will not be open to third party investment at launch, will be run as an independent investor.