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 co-founders Torleif Haugland and Arve Johnsen, the founder and first CEO of Equinor (formerly Statoil) remain active shareholders 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”.
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.
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.
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”.