Natsource launches European carbon asset pool

NEW YORK, June 12 (Reuters) - New York-based carbon asset manager Natsource LLC said on Thursday it has formed a pool for European companies to buy carbon credits they can use to meet their obligations under the Kyoto Protocol.

Participants including Spanish utility company Union Fenosa UNF.MC and Dutch energy company Eneco have committed 46 million euros ($71 million) to the Natsource Carbon Asset Pool, which has a target of 200 million euros.

"We try to bring them cheaper carbon credits for their compliance than they would otherwise be able to get," Egbert Liese, who will manage the fund, said by telephone.

It was Natsource's second carbon pool designed to serve industrial companies required to reduce their greenhouse gas emissions.

In 2005, Natsource established the Greenhouse Gas Credit Aggregation Pool, which attracted businesses from Europe, Canada and Japan.

It pooled about 520 million euros to purchase certified emission reductions created by the UN's Clean Development Mechanism, which allows parties in rich countries to get credits for investing in clean energy projects in developing countries, and other compliance mechanisms.

Liese said the new pool is smaller because it concentrates solely on opportunities for European companies. (Reporting by Timothy Gardner; Editing by Marguerita Choy)