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