# First Climate First Climate is a Corporate Investor based in Bad Vilbel, Germany. ## Overview - **Organization type:** Corporate Investor - **Headquarters:** Bad Vilbel, Germany - **Region:** Europe - **Address:** Friedberger Straße 173, 61118 Bad Vilbel, Germany - **Founded:** 1999 - **Assets under management:** Undisclosed - **Website:** firstclimate.com - **LinkedIn:** https://www.linkedin.com/company/first-climate ## Regulatory record - **Reports private funds:** No ## About First Climate was founded in Bad Vilbel, Germany, in 1999 by carbon market architects Sascha Lafeld and Urs Brodmann, who remain on the board. The firm emerged during the design phase of the Kyoto Protocol's flexibility mechanisms and was among the first private actors to build origination, trading, and advisory capacity around project-based emission reduction credits. In 2022, HANNOVER Finanz Group, a German mid-market private equity firm, acquired a majority stake, providing institutional backing while the founders retained board-level governance. First Climate operates across the full carbon value chain. Its trading desk transacts in compliance and voluntary carbon credits, while its advisory arm structures greenhouse gas abatement projects for corporates and governments. The firm covers renewable energy, methane capture, forestry, and clean cookstove methodologies, with historic sourcing across Africa, Asia, and Latin America. Through its participation in the International Emissions Trading Association (IETA) and Urs Brodmann's role on the Taskforce on Scaling Voluntary Carbon Markets (TSVCM), First Climate has been embedded in the market infrastructure conversations that shape credit standards and exchange frameworks. HANNOVER Finanz's ownership connects First Climate to a private equity group with over €300 million in assets under management and a track record of mid-cap industrial holdings, though the carbon firm's own balance sheet and fee-based revenue remain undisclosed. The management team is led by CEO Olaf Bachert, who joined the founders in shaping the firm's corporate strategy after the Paris Agreement reshuffled carbon pricing architectures. The firm operates from its suburban Frankfurt headquarters, with no publicly confirmed additional offices. Professional headcount is not disclosed. In May 2022, HANNOVER Finanz announced its acquisition, describing First Climate as a "leading service provider for carbon offset management" — a transaction that, positioned the firm for scaled corporate engagement as Article 6 implementation accelerated. First Climate's structural profile is unusual: it is a portfolio company of an industrial private equity group, not a standalone partnership or a bank subsidiary. That ownership structure links its carbon market activities to HANNOVER Finanz's extended network of portfolio companies, creating a potential pipeline for corporate offset mandates. The founders' ongoing presence maintains institutional memory dating to the UNFCCC's original market-based mechanisms — a depth of operating history that younger carbon startups lack. ## Sectors - ClimateTech - Energy Transition & Renewables ## People - Olaf Bachert — CEO - Sascha Lafeld — Founder, Member of the Board of Directors - Urs Brodmann — Founder, Member of the Board of Directors ## Questions ### Who runs investment decisions at First Climate? CEO Olaf Bachert leads day-to-day management and investment decision-making. Founders Sascha Lafeld and Urs Brodmann sit on the board of directors and contribute to strategic direction, particularly on market standards and new methodologies. The firm operates as a portfolio company of HANNOVER Finanz Group, which acquired a majority stake in 2022. ### How does First Climate source its carbon projects? First Climate has been originating emission reduction projects since the early Kyoto Protocol era, giving it long-standing relationships with project developers across Africa, Asia, and Latin America. The firm also advises corporates and governments on project development and procurement, creating an integrated sourcing model. Its founders' involvement in bodies like IETA and the Taskforce on Scaling Voluntary Carbon Markets provides early visibility into evolving standards and new methodologies. ### Does First Climate participate in both compliance and voluntary carbon markets? Yes. First Climate's trading desk handles both compliance credits—such as EU ETS allowances—and voluntary carbon credits. Its advisory work spans both regulatory compliance strategies for capped entities and voluntary offset procurement for corporate net-zero programs. The firm's history includes significant activity under the Kyoto Protocol's Clean Development Mechanism. ### What project types does First Climate typically work with? First Climate covers renewable energy (wind, solar, hydro), methane capture and destruction, forestry and land-use projects, and clean cookstove distribution. The firm has historically sourced credits from project developers operating under Gold Standard and Verified Carbon Standard methodologies. No explicit sector exclusions are publicly documented. ### How long has First Climate operated in carbon markets? Founded in 1999, First Climate is one of the earliest private carbon asset managers. It pre-dates both the European Union Emissions Trading System (launched 2005) and the full implementation of the Kyoto Protocol's Clean Development Mechanism. The founders were active in the policy design conversations that shaped early market infrastructure. ## Related profiles - [First City Capital Management](https://altss.com/profile/first-city-capital-management) - [First Command Advisory Services](https://altss.com/profile/first-command-advisory-services) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/first-climate Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology