Pan European Carbon Fund affirms its support towards the Project
(ProNewsReport Editorial):- Bangkok, Thailand Dec 28, 2022 (Issuewire.com) – Following the successful commencement and funding commitments of projects across Kenya and the CIS, Hilshaw Group is closing the year with an announcement to develop an Eco-Smart City in Thailand.
The Project is being planned in the Kalayaniwattana District in the city of Chiang Mai and will follow the same funding model as the Company’s earlier projects, i.e. through the trading of Carbon Credits.
Hilshaw Group will act as the Project’s ‘Exclusive Advisors’ and overall project and financing consultants.
Carbon Credits are a concept of any tradable certificate that gives the bearer the right to emit one ton of carbon dioxide or equivalent greenhouse gas. Carbon credits and carbon markets are a part of national and international attempts to mitigate the growth in concentrations of greenhouse gases. One carbon credit is generally equal to one ton of carbon dioxide. Carbon trading is a process of emissions trading with the goal to encourage low emissions or less carbon-intensive approaches than those used when there is no cost to emitting carbon dioxide. The sales of these carbon credits to commercial entities willing to lower their carbon footprint will fund and develop the projects further and introduce more such projects globally through the formed ‘Pan European Green Fund.’
The Pan European Carbon Fund (PECF) is a Carbon Credit issuance fund directed toward developing Smart Green Cities, Carbon Neutral Environments, and Earth Friendly Technologies.
In line with the Fund’s mandate and goals, PECF has consented to finance a significant part of the Project.
The Eco Smart City will include Commercial strips, Offices, Retail spaces, Restaurants, Hotels, Schools, Universities, Community Centers, Hospitals, Sports, Leisure, and Entertainment facilities alongside over 5000 residential units, will be spread across 4000 acres with an estimated project cost of 4 Billion Euros.
“Thailand has been a favoured destination for tourists, travellers, and adventure seekers forever. However, the ‘Land of Smiles’ gained the reputation of being an investment destination as well with the recent amendments to its Freehold and Foreigner ownership laws. All this coupled with the Country’s post covid economic progress has us very confident about Thailand as the destination of this Mega Smart City,’ said Lal Bhatia, Chairman, of Hilshaw Group.
“At PECF, our vision is to support the sustainability efforts of Public and Private sector companies by providing affordable finance for environmentally and commercially viable projects. Our experience with Hilshaw Group is the source of our confidence in the Thailand project, and we are pleased to be a part of it,” said Linda Gutama, Executive Director, of the Pan European Carbon Fund
Hilshaw Group is a Multi-Family Office & Investment Advisory. The Company primarily invests in low-supply and finite real estate opportunities.
This article was originally published by IssueWire. Read the original article here.
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