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Sunday, May 26, 2024

RyC advises Repsol IS on the registration of Portobello Carbono Verde

Ramón y Cajal Abogados has advised Repsol Impacto Social on the creation of VC company Portobelo Carbono Verde, the largest ESG carbon fund to boost large-scale reforestation as a CO2 offsetting tool

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Repsol Impacto Social (a wholly-owned SPV of Fundación Repsol) has acted as promoter and advisor to Portobello Carbono Verde SCR, a €60 million regulated Venture Capital company registered in the Spain´s National Securities Market Commission CNMV.

This is a pioneer project in Spain to promote investment vehicles to develop reforestation projects for CO2 absorption and purchase and sell of CO2 credits in the voluntary market, and the largest ESG carbon fund to boost large-scale reforestation as a CO2 offsetting tool.

Portobello will act as managing company and promoter of the Venture company while CA Indosuez Wealth will act as distributor to commercialize the VC company.

Ramón y Cajal´s team was made up partners Carlos Lao and Alfonso Cárcamo.

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