KfW銀行集團(tuán)概覽

1、6th / 7th December 2006, BeijingMr. Arne GoossDirector KfW Office BeijingCDM in China: Opportunities for Sino-German CooperationKfW Bankengruppe at a glanceKfW銀行集團(tuán)概覽Promotional bank of the Federal Republic of Germany.Founded in 1948.Shareholders: Federal Republic of Germany (80%), German federal sta

2、tes (20%). Balance-sheet total at the end of 2005: EUR 341 billion. 3,500 employees at the end of 2005.Rating: AAA/Aaa/AAA. Brand Structure.業(yè)務(wù)范圍促進(jìn)德國(guó)經(jīng)濟(jì)發(fā)展投資信貸出口信貸 及項(xiàng)目融資對(duì)發(fā)展中國(guó)家及轉(zhuǎn)型經(jīng)濟(jì)國(guó)家的促進(jìn)KfW Bankengruppe in China China Track Record since 1980: 9 billion Euro 自1980年以來(lái)，集團(tuán)在中國(guó)貸款總額:90億歐元KfW Carbon FundObjecti

3、ves of the Fund. 碳基金目標(biāo)Background 背景European Emissions Trading System (ETS), Linking DirectiveNational Allocation Planscompliance strategies of affected companiesProvide a service instrument for German and European enterprises wanting to use project-based certificates for compliance purposes 為德國(guó)和歐洲有意

4、購(gòu)買(mǎi)基于項(xiàng)目減排量的企業(yè)提供一種服務(wù)工具alternative to own measures and emissions tradingno internal capacities requiredrisk mitigation by diversificationKfW Carbon FundFund Concept. 碳基金方案Purchase programme (“Buyers Pool”) for project-based certificates 基于項(xiàng)目的減排額購(gòu)買(mǎi)計(jì)劃Purchase of compliance tools for the ETS (CERs, ERUs,

5、project-based EU-Allowances)commercial orientationKfW purchases as a trustee for participants KfW受參與企業(yè)的委托進(jìn)行購(gòu)買(mǎi)in its own name, for the account of participantson the basis of individual Agency Contracts between KfW and each participant long term off-take contracts with suppliers of certificates (“ERPA

6、”) 與碳減排額提供方簽定長(zhǎng)期購(gòu)買(mǎi)協(xié)議up to 2012 with option to extendpayment on delivery; pre-financing by KfW on a case by case basisKfW Carbon Fund Contractual Structure. 合同結(jié)構(gòu)Participant 1KfWProject Portfolio(“KfWCarbon Fund“)Project nProject 3Project 2Project 1Participant 2Participant 3Participant xERPAAgency cont

7、ractsKfW Carbon FundFund Volume. 碳基金規(guī)模Fund volume:計(jì)劃總額度:EUR 84 million, 8400 萬(wàn)歐元KfWs contribution from own funds: KfW 自己出資: EUR 10 million, 最多 1000 萬(wàn)歐元 German Government (“seed money”): 德國(guó)政府（種子資金）: EUR 4 million, 最多 400 萬(wàn)歐元Acquisition of participants:認(rèn)購(gòu)參與方1st tranche closed end of April 2006 Second

8、tranche in preparation:target volume of EUR 80 100 million Launch of second tranche: Q1 / 2007KfW Carbon Fund Purchase Contracts (I). 購(gòu)買(mǎi)合同(I)Long-term purchase agreement (Forward contract)長(zhǎng)期購(gòu)買(mǎi)協(xié)議KfW will buy in its own name (AAA Buyer)KfW以自己的名義購(gòu)買(mǎi)(三A級(jí)購(gòu)買(mǎi)者)Guaranteed minimum offtake quantity 有保障的最低購(gòu)買(mǎi)量 C

9、ontract period up to 2012 with option to extend合同期至2012年,還可能延長(zhǎng) Market-based pricing (fixed or variable pricing)價(jià)格隨行就市（固定價(jià)格或浮動(dòng)價(jià)格）KfW Carbon Fund Purchase Contracts (II). 購(gòu)買(mǎi)合同(II)Delivery options 期權(quán)交割Early delivery option for seller early fulfillment of contract;option to sell surplus amounts in later

10、 years in the market為賣(mài)方提供提前交割可供選擇的可能性Right of first refusal for buyer on Additional and Future Credits買(mǎi)方有按市場(chǎng)價(jià)格購(gòu)買(mǎi)額外和未來(lái)減排量的首選權(quán)Payment arrangements 付款安排Payment on delivery as a rule通常見(jiàn)貨付款Prefinancing on a case by case basis 視情況提供預(yù)付款 KfW Carbon Fund / KfW 碳排放投資交易基金 Investment Policy. 投資策略Eligible Projec

11、t Types 符合條件的項(xiàng)目Generally there are not specific limitations 總體而言無(wú)特殊限制Exclusions in line with Kyoto and ETS: 排外條款,以京都議定書(shū)和歐洲排放交易計(jì)劃為準(zhǔn), 具體是:nuclear power projects large hydro power projects (as per objectives of World Commission on Dams)until further notice LULUCF-activitiesKfW Carbon FundProject Select

12、ion Principles. 項(xiàng)目挑選原則Objective : 目標(biāo):building up a balanced project portfolio under the aspects of risk and return“investment grade” project portfolioMain criteria: 主要標(biāo)準(zhǔn):delivery risk (project, country, counterparty, “Kyoto”)price per ton of CO2e transaction costs (normally minimum of 50,000 t/pa CO

13、2e per transaction; bundling possible)preparation status (delivery from 2008 at the latest)KfW Carbon FundTime Schedule. 時(shí)間進(jìn)度安排 official launch (Floating of first CDM-tender): 正式啟動(dòng): June 2004, 2004年6月29日 present status: 目前狀況:more than 200 project proposals received; about 30 projects shortlistedfour

14、 ERPAs and six LoIs signedsectors: renewable energies (hydro, wind, biomass) and methane abatement (land fill, mine gas) countries: China, Brasilia, Egypt, Nepal, India conclusion of further ERPAs: until mid of 2007 delivery of certificates: until 2012 The KfW Carbon Fund德國(guó)復(fù)興信貸銀行碳基金Mr. Bernhard ZanderFirst Vice PresidentKfW Carbon FundPalmengartenstrasse 5 960325 Frankfurt