Caisse des Dépôts et Consignations - Caisse des Dépôts and the fight against the climate change

Caisse des Dépôts and the carbon market

Caisse des Dépôts is making the environment and sustainable development one of its four strategy priorities.
It intends in particular to contribute to the struggle against climate change by promoting the development of the carbon market mechanisms provided for by the European Union since 2005 and the Kyoto protocol from 2008.
For this purpose, it is investing in four areas: research, market intermediaries, registries and technologies and carbon assets.

Research on the carbon economy
Caisse des Dépôts’ Mission Climat (Climate task force) is a centre for analysis and research on the carbon economy that brings together a team of economists and engineers who specialise in four fields:
 analysis of the operation of the European CO2 quotas trading system (EU ETS),
 development of new tools for action against climate change,
 international developments in carbon finance,
 adapting to climate change and the financing of infrastructures.

Market intermediaries
 BlueNext : Alongside NYSE Euronext (60%), Caisse des Dépôts is a 40% shareholder in BlueNext, the international environmental exchange. BlueNext operates the leading EUA spot exchange in Europe from trading to payment and delivery in real time and also trades future EUA and CER contracts.
 Sagacarbon : Caisse des Dépôts’ subsidiary Sagacarbon is a broker specialising entirely in CO2 asset trading. Sagacarbon offers its European clients services of consultancy on strategy for managing their carbon credits, and of transacting on organised and over-the-counter markets, as well as a range of structured products tailored to their risk profiles.

Registries and market technologies
Drawing on its strong financial security culture, Caisse des Dépôts creates technological tools to back up carbon markets developpement : registries, platforms…
Since 2005, Caisse des Dépôts, on behalf of the French State, is managing the French national greenhouse gas emission allowance Registry.

Investment in carbon assets
Caisse des Dépôts invests indirectly via carbon funds, and directly by financing projects.
 Carbon funds : part of the European carbon fund and the Post 2012 Carbon Credit Fund, it intends to pursue its investment policy.
 JI projects : In 2007, Caisse des Dépôts launched an appeal for JI projects for voluntary reduction of greenhouse gas emissions in France in sectors such as transport, real estate or agriculture, which are not in France subject to the European quotas system in the period 2008-2012.