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Macquarie Group, a global provider of banking, financial, advisory, investment and funds management services, and First Climate AG, a fully integrated carbon asset management company, today announced a broad strategic cooperation designed to strengthen and expand their respective pipelines of emission reduction projects in China. First Climates current pipeline of projects in China includes the whole range of emission reduction projects, such as wind, hydro, industrial gases and waste heat projects.
The cooperation agreement covers project sourcing and development as well as the management and sharing of the resultant Certified Emission Reductions. The companies have further agreed to explore joint financing opportunities in CDM projects.
China currently accounts for 60% of carbon credit trading under the CDM developed under the Kyoto Protocol. In a rapidly expanding competitive market, drawing on the respective expertise that the alliance partners bring is expected to strengthen both companies market position, enabling better service to our partners in China.
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