Al Gore-backed investment firm buys 9.5 pct Camco Intl stake (carbon credits)

AFX ^ | June 4, 2008

[Shermy]

LONDON (Thomson Financial) - Generation Investment Management, the private equity fund chaired by former U.S. vice president Al Gore, has acquired a 9.5 percent stake in Camco International Ltd, a carbon asset developer.

Generation, set up in 2004 by Gore and David Blood, former chief of Goldman Sachs's asset management arm, now holds 16 million Camco shares, Camco said in a statement.

Camco, which has one of the world's largest carbon credit portfolios, works with companies to identify and develop projects that reduce greenhouse gas emissions and then arranges the sale and delivery of carbon credits.

[Shermy]

Solutions to climate change

Camco is a leading carbon asset developer with one of the world’s largest carbon credit portfolios. We generate carbon credits by partnering with companies to identify, develop and manage projects that reduce greenhouse gas emissions. Camco then arranges the sale and delivery of carbon credits to international compliance buyers and into the voluntary market.

Camco is a market leader in China and Russia [!!!] - two of the largest potential markets for carbon credits - as well as in Eastern Europe and Africa. We are also developing projects and managing carbon emissions in North America, a significant market not currently covered by the Kyoto Protocol flexible mechanisms.

Our innovation, breadth of experience and diversity of expertise have resulted in a number of milestone projects and industry awards. Camco was voted Best Project Developer in a 2007 survey of carbon industry participants undertaken by Point Carbon. The Yangquan Coal Mine Methane (CMM) project, the world’s largest CMM project, was voted Carbon Transaction of the Year by Environmental Finance magazine.

How we deliver carbon credits

Origination Camco identifies and co-develops industrial projects that have the potential to reduce emissions. We are able to assist in raising finance, both through carbon asset financing, and innovative debt / equity structures.

Qualification Once financing is secured, Camco manages the project through the regulatory process. Camco has the expertise to develop new methodologies if required, and has successfully verified both compliance and voluntary market projects.

Structuring Camco is highly experienced in working with the project owner to advise on and develop the best possible structure for the deal. We have helped to structure some of the largest CDM projects developed to date.

Placement It is important to secure the best possible prices for our clients. We are uniquely positioned in the international carbon market to work on behalf of project owners, and have offices close to buyers in London, Europe and North America, and with strong links into Japan.

Asset management It is essential that projects achieve successful verifications and carbon credit issuance. Our experienced in-house technical team work closely with clients to ensure assets are delivered in a timely manner.

http://www.camco-international.com/camco_whatwedo.php

[Shermy]

Gore, Goldman Sachs, scam

[acapesket]

GAG ME!

[bray]

Global Scamming turns algore into a gazillionaire coincidentally.

Pray for W and Our Troops

[steelyourfaith]

Thanx !

Beam me to Planet Gore !

[TheWasteLand]

This is the dirty little secret at the heart of much of the "climate change" movement.

Alarmists driving policy and politics while owning the very companies that will gorge at the public trough when those policies are enacted. It's a giant scam.

[hellbender]

This carbon trading is probably the biggest racket ever devised, with the exception of Big Govt. itself. In a just world, Gore and his cronies would be prosecuted under the RICO Act.

[ronnie raygun]

Gore if allowed to run with this will be responsible for the death of American capitolism. What a great American hero.

[peeps36]

The media should put a disclaimer at the bottom of the screen every time Fat Al Gore speaks about global warming. The people should know that Al Gore is not a neutral person and he will make tens of millions of dollars off of carbon trading.

[Jaded]

Ah, the Emperor’s new clothes. Ain’t they a beauty?

[FlingWingFlyer]

I always thought selling water in bottles to people was a scam. However, the crook Algore has them all beat. He has created the mother of all scams. Having people PAY him to trade nothing for nothing. ROTL! Algore is definitely not as dumb as he looks.

[CapnJack]

I think you forgot the first letter of Gore’s company’s name. It is a “S” .... SCamco.

[Revolting cat!]

Three card monte for the educated fools!

[calcowgirl]

Amazing, isn't it? CAMCO was established in 2003 and actually went public on the London Exchange as CAO in 2006. The stock started at about $85/share, only to take a dive to $50. It got pumped back up to almost $100 in the beginning of last year, but continuously dove to the $35-40 range, where it is today. I looked at their major holders--I didn't see Goldman but saw Morgan Stanley, Brown Bros Harriman, and many other big names. Tudor BVI Global Portfolio L.P. was a 14% holder as of a couple weeks ago. That was the largest holding I saw. Their financials are a mess. They can't even turn an operating profit -- all stats are in-the-red -- and half their non-current assets are intangibles (carbon hot-air, no doubt). Why will it not surprise me if Al Gore finds a way to make money on this (at the expense of the poor sucker stockholders who go ga-ga over owning a "green" stock in their portfolio? [Good market info and charts on CAO here]

[Enchante]

More “globull warming” crud going on right now......

I have C-SPAN2 on in the background - not paying much attention to it but apparently they are just finished EIGHT HOURS of reading the abomination of the Boxer/Lieberman/Warner monstrosity of a bill. Now the reptilian Harry Reid just took the podium and started ranting about Republicans forcing this reading of the bill and some upcoming vote......

Harry Reid, you are a loathsome piece of donkey feces!!!!!

[VanShuyten]

"Camco identifies and co-develops industrial projects that have the potential to reduce emissions. We are able to assist in raising finance, both through carbon asset financing, and innovative debt / equity structures."

You just know there's a scam involved with a phrase like "innovative debt/equity structures". That sounds an awful lot like bundling bad mortgages and selling them as CDO's.

[xcamel]

Carbon Scam/POGW

[Shermy]

“The stock started at about $85/share, only to take a dive to $50. It got pumped back up to almost $100 in the beginning of last year, but continuously dove to the $35-40 range, where it is today.”

I suspect that’s in line with the carbon credit plunge in Europe, then it went back up with Europe extending the carbon credit life expanse past Kyoto 2012, then down again.

REally, if Europe was smart,they’d plan to get America hooked, dump all there carbon credits here quick and cheap, and get out of the game before the bubble bursts completely.

[Shermy]

Enron lives.

[ProtectOurFreedom]

The entire portfolio of projects like these have less affect on climate than pissing in the ocean has on ocean temperature. I just can’t believe companies pay money for this scam.