Company history

ICA-Finance AS was founded as a result of a de-merger of Carbon Limits AS in 2021.

With a history spanning nearly two decades, our expertise in the carbon credit space began in 2005 under ECON (now Poyry Norge), which in 2007 led to the establishment of Carbon Limits AS. The company was co-founded by Torleif Haugland and Arve Johnsen, the founder and first CEO of Equinor (formerly Statoil), the former of which remains an active shareholder of ICA-Finance.

In 2011 we established Carbon Limits Nigeria in Lagos Nigeria, together with our Nigerian Partners.

In 2023 under the name CL-Invest AS, we secured investment from Climate Investment (CI), founded by the Oil and Gas Climate Initiative. In July 2023 we changed name to ICA-Finance,
“Immediate Climate Action Finance”.

2005
Carbon Limits AS formed as part of ECON (now Poyry Norge)
2005
Carbon Limits AS formed as part of ECON (now Poyry Norge)
2007
Carbon Limits AS becomes independent from ECON
2007
Carbon Limits AS becomes independent from ECON
2008–2020
Carbon Limits builds a strong market position
2008–2020
Carbon Limits builds a strong market position
2011
Carbon Limits-Nigeria Ltd. is established opening offices in Lagos, Nigeria
2011
Carbon Limits-Nigeria Ltd. is established opening offices in Lagos, Nigeria
2021
CL-Invest de-merger from Carbon Limits AS
2021
CL-Invest de-merger from Carbon Limits AS
January 2023
Climate Investment invests in CL-Invest
January 2023
Climate Investment invests in CL-Invest
July 2023
CL-Invest becomes
July 2023
CL-Invest becomes

Mission statement

Immediate climate action by delivering high integrity emission reductions.

vision

Be the catalyst in implementing commercially attractive climate financing tools and mechanisms to achieve the highest possible climate impact.

What we do

We work in partnership with National Oil Companies (NOCs) and independent oil producers to realize scalable emission reductions that can be achieved rapidly.

We offer the full service of project identification and assessment, followed by project financing and implementation. Managing all the activities of the project cycle are essential parts of our deliveries for carbon credit projects. It includes field work prior to validation and preparation for and conducting of the monitoring, reporting and verification of emission reductions.

The value chain of project development and emission reduction services

An essential part of our services is to engage in project financing to overcome project implementation barriers. This includes sales of emission reductions as High-Quality Credits in carbon markets.

Our supply of carbon credits will comply with High- Quality criteria and requirements (standards). Standards under the Clean Development Mechanism (CDM) have guided our work until now and all credits we have brought to market have made use of CDM methodologies to test additionality, quantify and verify emission reductions in line with conservative baseline assumptions and document permanence of emission reductions. We will adhere to new and/or revised standards which are under development and discussion through many initiatives.  This includes safe-guards against double-counting and double-use of carbon credits and supply and use of credits that are aligned with a transition towards net-zero emissions.

What we don't do

We only engage in climate mitigation at existing oil and gas infrastructures with significant emission reduction potential. We are not involved in projects which expand oil and gas production capacity. In the context of the energy transition, we are conscious of not engaging in activities that would represent oil and gas “lock-in”.

Our team

We are climate mitigation experts with two decades of experience in project assessment and development. We specialize in monetizing emission reductions to make projects financially viable.

Our highly skilled, multidisciplinary, and experienced international team knows how to work under challenging conditions.

Core management

Halfdan Millang

Carbon Limits
CEO
LinkedIn

Finn L. Dahl

Carbon Limits
CFO
LinkedIn

Brian Robertson

Carbon Limits
CDO
LinkedIn

Christian Hiemeyer

Carbon Limits
Head of Administration and Accounting
LinkedIn

Torleif Haugland

Carbon Limits
Co-founder and Advisor
LinkedIn

Sharique Sayed

Carbon Limits
Project Portfolio Manager
LinkedIn

Sara Salomone  

Carbon Limits
Senior Engineer 
LinkedIn

Paulina Kliva Gulbe

Carbon Limits
Senior Business Analyst
LinkedIn

Kseniya Pak

Carbon Limits
Carbon Project Controller
LinkedIn

Gerardo Urdaneta

Carbon Limits
Consultant
LinkedIn

The Board

Grethe Moen

Carbon Limits
Chair of the Board
LinkedIn

Tore Holm

Carbon Limits
Board Director
LinkedIn

Auke Lont

Carbon Limits
Board Director
LinkedIn

Anders Pederstad

Carbon Limits
Board Director
LinkedIn

Matthew Harwood

Carbon Limits
Board Director (Climate Investment, CI)
LinkedIn

Will Shimer

Carbon Limits
Board Observer (Climate Investment, CI)
LinkedIn

Our partners

ICA-Finance maintains a strategic partnership with Carbon Limits AS, following the companies' de-merger in 2021. Carbon Limits continues to provide consulting and technical services and expertise to ICA-Finance and indirectly to its clients. Through the partnership we aim to provide our clients with tailor made and cutting edge advice which reflects specific needs. Both parties strictly adhere to confidentiality obligations towards their respective clients to avert any conflict of interest.

Visit website

Nigeria team

Visit website

Heine Melkevik

Carbon Limits
CEO
LinkedIn

James Ogunleye

Carbon Limits
LinkedIn

Bolaji Ogundare

Carbon Limits
LinkedIn

Adegbite Adeniji

Carbon Limits
LinkedIn

Oje Jnr

Carbon Limits
LinkedIn

Iraqi Green Climate Organization

ICA-Finance has a standing partnership with the Iraqi Green Climate Organization (IGCO), a non – governmental organization based in Baghdad, Iraq.

Visit website

Pollination Group

ICA-Finance has a long-standing partnership with Pollination, a global advisory and investment firm focussed on accelerating the transition to a net-zero, climate resilient future.

Visit website