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About Danish Carbon Fund (DCF)
Introduction
The Danish Carbon Fund (DCF) was established in January 2005 with two public sector participants (the Danish Ministry of Foreign Affairs and the Danish Environmental Protection Agency) and a private sector participant (DONG Energy). In the summer of 2005, three other private sector participants (Aalborg Portland, Nordjysk Elhandel, and Maersk Olie) joined the DCF, increasing the Fund’s capital from 46.3 million euros in January 2005 to 57.985 million euros in August 2005.
The DCF is open to considering CDM projects throughout the developing world, and as such treats all regions equally, without favoring one particular region over another. Moreover, the DCF seeks to contribute to the mitigation of greenhouse gases in countries with economies in transition, so a portion of its overall capital is committed to the purchase of emission reductions from JI and CDM projects in countries in Eastern Europe and Central Asia. The DCF has also adopted a pragmatic and flexible approach with respect to the technologies that it considers for its portfolio, albeit it has a preference for projects in the areas of wind power, combined heat and power (co-generation), hydropower, biomass, and landfills.
DCF participants are also interested in ensuring that smaller communities that are particularly vulnerable to climate change benefit from the CDM and associated sustainable development benefits. A portion of the DCF capital ($5.125 Million) has thus been committed to the World Bank's Community Development Carbon Fund.
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