Terms
- Announced
- 12 Sept 2024
- Instrument
- Debt
- Amount
- US$1.40mReported as est. US$1.4mEstimate: contracted offtake volume at an assumed carbon price; the loan amount is not disclosedFor 4,000 tCO2e
- Source
- sc.com
Parties
- Project developer
- UNDO
- Country
- United Kingdom
- Capital providers
Capital providers and the amount counted for each Party Role Amount Basis Standard Chartered Lender US$1.40m Sole provider: the whole transaction
Carbon
- Pathway
- Enhanced rock weathering
- Backed by offtakes from
- British Airways
Structure and cover
- Insurance type
- Delivery
- Insurance provider
- CFC (insurer); WTW (broker, per ESG Post)
What happened
- Small transaction involving Standard chartered lending money to undo, 4000 carbon credits - based on an offtake agreement with British airways as collateral
Kumo note
- Standard Chartered lent against a multi-year carbon removal offtake from British Airways, routed through CUR8. The 4,000 tonne volume securing the facility is BA's contracted purchase, not a separate financing. Delivery-shortfall insurance from CFC, with WTW as broker according to trade press, covers a production shortfall against the loan.
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