WebConnect

6 April 2010

 

ICRA Online, a wholly owned subsidiary of ICRA Limited (an Associate of Moody’s Investors Service) and IDEAcarbon, the company that instituted ratings of carbon assets, signed a strategic alliance today that will enable the carbon credit markets in India gain transparency and facilitate its efficient growth.

IDEAcarbon, that owns The Carbon Rating Agency, is a pioneer in creating efficiency measures for the global carbon market. The announcement of the strategic alliance with ICRA brings to India the facility of establishing best practices and the matchless expertise of IDEAcarbon in assessing risks associated with carbon market instruments along with its understanding of climate change economics.

Noting the significance of this development, Mr. P.K. Choudhury, Vice Chair and Group CEO of ICRA said, “This is a material step for Indian project developers and the carbon market to gain from international best practice and tools that become available to them through our alliance with IDEAcarbon”.

The strategic alliance between the two companies is structured to coalesce ICRA Online’s resources on the ground in India and IDEAcarbon’s global network and its knowledge of carbon asset analysis to provide the Indian carbon market participants independent and reliable analysis of carbon assets and help them manage risks.

As carbon markets continue their rapid growth with carbon trading mechanisms becoming the predominant enablers for combating climate change, increasing transparency in these markets is essential for the effective functioning of such mechanisms. IDEAcarbon and the Carbon Rating Agency have proven performance in this role and the strategic alliance with ICRA Online extends this role to the Indian subcontinent.

While underlining the strengths of the two companies that this partnership combines, Mr. Shandi Modi, Founder and CEO of IDEAcarbon said; “IDEAcarbon and the Carbon Rating Agency are committed to enabling an efficient development of the carbon markets worldwide and through this alliance we are confident of extending that effort in this region with a credible partner as ICRA”, which has a first class reputation in the Sub Continent.

The carbon offset rating is a calibrated opinion on the emission reduction estimates of underlying developmental projects. These opinions are based on a diligent analysis of the originating projects and the Carbon Rating Agency’s proprietary delivery estimation models and benchmarking. The Carbon Rating Agency looks forward to a partnership that will deliver greater coverage rating carbon offset assets originating in India.
 

About The Carbon Rating Agency

The Carbon Rating Agency is a wholly owned subsidiary of IDEAcarbon. Its mission is to improve the functioning and efficiency of the carbon markets. The Carbon Rating Agency's ratings and opinions are unencumbered and independent - it does not trade, buy, sell or originate carbon credits. Further details of the Carbon Rating Agency’s approach to rating carbon assets are available at www.carbonratingsagency.com

About IDEAcarbon

IDEAcarbon, with its head offices in the U.K, is an independent and professional provider of ratings, research and strategic advice on carbon finance. Founded by Shandi Modi, CEO and Ian Johnson, Chair and formerly Vice President of the World Bank, it is part of the IDEAgroup whose advisors include Lord Nick Stern and Nitin Desai.

Its services are designed to provide leading financial institutions, corporations, governments, traders and developers with intelligence and analysis of the factors that affect the pricing of carbon market assets. The IDEAcarbon team are leading experts in the carbon and energy markets. They combine policy and financial intelligence with proprietary tools for the analysis of credit risk. Their techniques assist their clients to manage and mitigate risk in today's uncertain global carbon markets. For more information please visit: www.ideacarbon.com

ICRA Online Limited (ICRA Online)

ICRA Online is a leading information services and technology solutions provider and caters to some of the biggest names in the financial services sector in India and abroad, which is a testimony to its product quality, commitment and credibility.

ICRA Online is wholly owned subsidiary of ICRA Ltd., a leading Credit Rating Agency (an associate of Moody’s Investors Service, Inc). ICRA Online was incorporated in Jan 1999 and has over the years established itself as an independent and credible source of authentic information and software solutions in the financial services and investment domain. For more information please visit: www.icraonline.com

Media Contacts:

Kreab Gavin Anderson 020 7074 1800
ideacarbon@kreabgavinanderson.com
Matt O’Leary
Renfeng Zhao

Disclaimer:

All information contained herein has been obtained by IDEAcarbon from sources believed by it to be accurate and reasonable. Although reasonable care has been taken to ensure that the information herein is true, such information is provided ‘as is’ without any warranty of any kind, and IDEAcarbon in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness or completeness of any such information. All information contained herein must be construed solely as statements of opinion.