23 Jul 2009 07:00
Camco awarded "Carbon Finance Deal of the Year"
23 July 2009
Camco International Limited ("Camco") has been awarded "Carbon Finance Deal of the Year" by Environmental Finance for its deal with Standard Bank, which involved a structured sale of a portfolio of 5.8 million certified emission reductions (CERs) to leading international compliance buyers. As part of the transaction Camco received an upfront, non-recourse cash payment of €15 million. The structuring of the portfolio was specifically designed to meet the needs of compliance buyers.
Yariv Cohen, Chief Carbon Officer for Camco, said: "We are delighted that this innovative deal has been recognized as Deal of the Year. The unique structure gave the buyers opportunity to access Camco high quality portfolio whilst ensuring maximum value for Camco's project partners. We are pleased that the close collaboration with the team at Standard Bank enabled us to address all clients' needs and close the transaction in a record time."
Environmental Finance editor Mark Nicholls said: "It is clear that environmental markets have been far from immune from the financial crisis, and several of the landmark deals we have given awards to this year have been structured to help address the new market realities faced by companies in the sector".
The awards were open to transactions that had closed in the 12 months to June 2009, nominations were collected and the market was polled to draw up a short-list of deals. This short-list was presented to an external judging panel, before the winners selected.
Enquiries:
For more information please contact:
Camco International +44 (0)20 7121 6100
Jeff Kenna, Chief Executive Officer
Scott McGregor, Chief Financial Officer
Kreab Gavin Anderson +44 (0)20 7554 1400
Kate Hill
Michaela Wood
Notes to editors:
About Camco
Camco an international leader in identifying and implementing solutions that help businesses address their climate change risks and opportunities. Camco has a 20-year track record in advisory services and one of the largest and most diversified portfolios of carbon credits, making it a premier climate change and sustainable development company.
Camco brings together the distinct but complementary service areas of Carbon, Advisory and Investments to help its clients manage all aspects of their carbon risk. Camco's businesses collaborate between service groups and countries, sharing technical and commercial expertise to find the best options for its clients.
The Advisory business unit combines strategic, commercial, financial and technical expertise accrued over two decades to deliver low carbon energy and sustainable development solutions. Our experience spans emission assessments, carbon management strategies and project delivery, as well as international energy and climate change policy.
The Carbon business unit is a leading project developer with one of the world's largest carbon credit portfolios. We partner with companies to identify, develop and manage projects that reduce greenhouse gas emissions, and then arrange the sale and delivery of carbon credits to international compliance buyers and into the voluntary market.
The Carbon business unit has also created one of the largest carbon credit portfolios by working closely with companies to identify and develop projects that reduce greenhouse gas (GHG) emissions. The team has structured ground breaking and innovative arrangements for the sale and delivery of carbon credits to compliance and voluntary buyers.
Camco's Investment business unit collaborates with manufacturers, project developers, technology providers and investor groups to turn innovative ideas into commercially viable and applicable solutions that will make a difference in tackling climate change.
About Environmental Finance
Environmental Finance is the leading global publication covering the intersection of environmental issues and the financial sector. It covers climate change, emissions trading, renewable energy finance, responsible investment and weather risk management, among other subjects.
The awards will be written up in the July/August of Environmental Finance and interested journalists can obtain the articles as PDFs by emailing info@environmental-finance.com.