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CF Partners (UK) LLP v. Barclays Bank PLC - press release

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CF Partners (UK) LLP v. Barclays Bank PLC - judgment

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CF Partners (UK) LLP (“CFP”) approached Barclays Bank PLC (“Barclays”) seeking financing and advice to enable CFP to acquire Tricorona AB (“Tricorona”), a company operating in the carbon credits market and holding a large portfolio of Certified Emissions Reductions (“CERs”). Subsequently, Barclays and Tricorona used information gained from their relationship with CFP to arrange for Barclays to acquire Tricorona. CFP brought suit against Barclays and Tricorona, seeking compensation for the defendants’ purported misuse of confidential information and breach of an exclusivity agreement. Based on evidence presented at trial, the court found that neither Barclays nor Tricorona owed an obligation of exclusivity to CFP at the relevant times. The court found, however, that CFP provided confidential information to Barclays and Tricorona regarding the value of Tricorona’s portfolio of CERs and that the defendants wrongfully used this information to their own advantage by arranging for Barclays to purchase Tricorona. The court held Barclays and Tricorona jointly liable for each other’s breaches of confidentiality and entered a judgment o f ten million pounds in compensatory damages.

Shortly after the opinion was issued, the parties reached a undisclosed settlement covering all outstanding matters including costs and appeals. Click here for an article regarding the settlement.

CF Partners (UK) LLP v. Barclays Bank PLC

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives

The activities of industries involved in the production, distribution, and sale of energy, including electricity, gas, and renewables.

Tradable permits are market-based tools that grant permission for specific activities, frequently used to regulate emissions. These permits can be issued within a trading system to manage environmental impacts.

Either money or something of monetary value is transferred between two or more organisations, people or countries.

CF Partners (UK) LLP v. Barclays Bank PLC - press release

Policy instrument

Renewable energy

Economic sector

Finance