The EKO Green Carbon Fund was a demonstration fund. GCF’s strategy was to invest in the development of carbon offsets, primarily from land-based carbon sequestration projects (which may have included forestry, agricultural change and other land-use change projects) in the United States. The GCF had a “Parallel Fund” which invested alongside the GCF. The Parallel Fund distributed carbon offsets in kind to investors as opposed to delivering financial returns. The bulk of the investments in the portfolio were Improved Forest Management projects that generated carbon offset credits for the California Air Resource Board cap-and-trade program.