From Reuters via Forbes:
Shares in Camco International fall 18 percent after the carbon offset aggregator says in its interim results statement it still expects a full-year loss despite seeing signs of recovery in its key markets.
KBC Peel Hunt cuts its recommendation on the stock to 'Hold' from 'Buy', citing a strong recent performance from the shares and the weak carbon price....
Reuters gave us a heads up three weeks ago:Camco pursues other business amid uncertainty: CEO
Carbon offset aggregator Camco International (CAMIN.L: Quote, Profile, Research, Stock Buzz) is looking for other ways to make money due to poor market conditions stemming from uncertainties surrounding a new global climate pact, its CEO said on Tuesday.Here's the full Reuters story on Camco's results:
Jeff Kenna expects a basic framework agreement to be reached at United Nations climate talks in Copenhagen in December, but said the exact details will not follow for at least another year, meaning more uncertainty for firms operating under the Kyoto Protocol, which expires in 2012.
"To hedge against this uncertainty, we're building up a third wing of our business," said Kenna.
UK-based Camco is eyeing investment in clean energy projects to complement its existing business, which includes selling carbon offsets and advisory services.
Kenna said Camco helps project developers raise capital with a view to earning profit from the project's electricity and waste gas sales, as well as through selling offsets.
"Putting money into projects needs a lot of capital, which we don't have, so we work with the project developers to source that capital," Kenna said."Particularly in the U.S. there is a lot of activity but also a lot of a project developers who are under-capitalized.">>>MORE
Carbon: Al Gore, Score! Camco Int'l posts maiden full-year profit (CAO.L)