OGCI Climate Investments invests in CL-Invest
Summary
The company is one of the first firms to develop carbon credits for methane abatement and flare reduction for the oil and gas sector in emerging markets. To date, CL-Invest has successfully monetised multiple methane-linked emissions-reduction projects in both Central Asia and Nigeria.CL-Invest delivers an end-to-end solution covering all aspects of the carbon credit life cycle. It also helps navigate a complex market and regulatory framework to generate financial returns for emission reductions.Within the upstream oil and gas sector, CL-Invest focuses on small- to mid-CAPEX projects, including leak detection and repair, vapour recovery units, and flare gas recovery in Central Asia, Africa, and the Middle East.This transaction marks a significant expansion of CIs financing of commercial methane mitigation activity, CIs Managing Director, Project Capital, James Mackey, said. It joins our diverse portfolio of methane investments, further supporting CIs holistic approach to decarbonisation. We see significant alignment between the strategies and goals of both firms, and we very much look forward to [having] CI support us on our bold mission: immediate climate action through elimination of financial barriers.This transaction brings the total number of CIs Catalyst Fund I investments in cutting-edge technologies and projects to 30, with 10 of them in solutions to reduce methane emissions.