Swiss Re announced that its London-based subsidiary, Conning Asset Management (Europe) Limited, has been appointed to manage the EUR125 million ($195.3 million) post-2012 Carbon Credit Fund.
The Zurich-based reinsurers said the fund is currently investing in the carbon credits produced by so-called “post-Kyoto” projects. The Kyoto protocol is set to expire at the end of 2012.
According to the reinsurer, in the absence of any certainty about the nature of the post-Kyoto regime, the market for carbon credits beyond 2012 is undefined. As a result, many projects with long development lead times are unable to secure funding.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
