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ARTICLE · 28 JANUARY 2013

Luz Verde: The First-Ever Programmatic Clean Development Mechanism (CDM) Project To Receive Carbon Credits Under The Kyoto Protocol

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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De Brauw Blackstone Westbroek

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Luz Verde is the first-ever Clean Development Mechanism project under a Programme of Activities to receive carbon credits under the Kyoto Protocol.

NetherlandsFinance and Banking
Sander Simonetti
Sander Simonetti
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Luz Verde is the first-ever Clean Development Mechanism (CDM) project under a Programme of Activities (PoA) to receive carbon credits under the Kyoto Protocol. On 28 December 2012, the UN issued 19,000 certified emission reductions (CERs) to the project, which was developed by Cool nrg International with project financing from ING Bank, advised by De Brauw as lead counsel. This first issuance was hailed by the UN Framework Convention on Climate Change as a milestone in the evolution of the global carbon market because programmatic CDM has the potential to "scale up" and get carbon finance to the world's poorest regions.

Under the Luz Verde (Cuidemos) project, energy efficient light bulbs were distributed across Mexico. In 2010, the financing of the project was acclaimed " Carbon Finance Deal of the Year" by Environmental Finance Magazine and highly commended by the Financial Times Innovative Lawyers Report.

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