A survey carried out by Bloomberg New Energy Finance(NEF) shows Carbon Resource Management (CRM), a division of Vitol Group, was the most active private carbon offtaker by number of deals in 2010.
The data, compiled by Bloomberg LP owned New Energy Finance, shows CRM had the largest number of projects (34) entering the pipeline in 2010 and 11.1 million tons of credits forecast to be issued by 2020.
NEF said in its report that 2010 was a solid year for carbon markets which registered 5% growth in value and trading. Demand for carbon offsets has picked up, directly benefited the Kyoto Protocol’s flexible mechanisms, the Clean Development Mechanism (CDM) and Joint Implementation (JI).
In January 2011, Vitol announced its purchase of an additional 76.3% stake in Carbon Resource Management, giving it 100% ownership. CRM is acknowledged to be a global leader in partnering companies that wish to develop and monetise carbon assets. Its achievements include the first Clean Development Mechanism (CDM) project in China, the first wind power CDM project in the world, a portfolio of over 45 million tonnes and over 200 CDM projects currently being progressed.
With offices in Beijing, Geneva, Kiev, Hanoi and London and over 30 employees, CRM applies its expertise across the carbon credit cycle, from identifying new projects to delivering carbon credits to market.
Vitol is one of the worlds leading participants in the CO2 market with one of the largest carbon project portfolios and an offtaker of around 140m tonnes of contracted emission CER/ERU volume to 2012. This is distributed across over 250 projects and gives rights to more tonnes post 2012. Vitol is also a major trader on the EU Emissions Trading Scheme.