Transforming Emissions Reductions into Carbon Assets NORTH AFRICA CARBON EXHIBITION Jerba, 23 rd September 2004 © CAMCO 2004 James Graham, General Manager Camco International

Overview –Introduction to CAMCO International –CAMCO Approach –Current Portfolio & Achievements to Date © CAMCO 2004

CAMCO Mission –To assist partners in taking advantage of new economic and strategic opportunities presented by emerging international carbon markets; –To identify, develop & place credits for GHG emission reductions generated by eligible projects and activities (primarily under JI and CDM). © CAMCO 2004

Founders & Inheritance Expertise & Know-how Project Portfolio & Leads Personnel Wide Geographic Network of Contacts Reputation © CAMCO Energy for Sustainable Development

CAMCO Approach Operate as a partner to the project, sharing the risks and rewards of carbon asset development; Provide a comprehensive service - from carbon asset opportunity identification through to ERPA closure; Harness own experience and expertise to manage risks & uncertainties associated with new international emissions trading markets; Demonstrate our commitment and belief in our own ability to deliver by sharing in risks in developing carbon assets. © CAMCO 2004

Carbon Asset Monetisation Carbon Asset Creation CAMCO Services Assistance thru Registration Assistance thru Validation Assistance in ERPA Negotiations Project Design Document Optimisation Identification and Definition Prepare Tender Documents Identify Preferred Buyer Marketing CERs to Various Buyers

CAMCO’s Primary Services Carbon asset identification and valuation – project due diligence, quantification and valuation of carbon asset opportunities of various types & provenances; Asset optimization through project structuring and risk mitigation; Asset realization through preparation of baselines and monitoring protocols, managing projects through the validation & registration processes; Marketing, placement and support in negotiation of emissions reduction purchase agreements (ERPAs) - matching projects with appropriate buyers, contract structuring, liability and risk management;

CAMCO Strengths Success-based rewards allow project developers and purchasers to externalise costs & risks of carbon asset development Long reach into markets to identify & nurture quality opportunities Adding value to carbon asset opportunities through optimisation and risk mitigation Strong experience and proven track record

Primary CAMCO Markets Global Reach Market strengths ER producers/sellers ER buyers

CAMCO Carbon Asset Portfolio

Projects contracted

CAMCO Clients to Date Investors in:  Biomass processing (Bulgaria)  Fuel-switching (Poland)  Hydropower (Uganda, Bulgaria, China)  Windpower (China, Kenya)  Coal-mine methane utilisation (China)  Low-carbon project developers (Poland) Emission Reductions Purchasers  World Bank Carbon Funds (PCF and CDCF);  European institutional buyers (Austria, Finland, Sweden);  Private & Corporate clients seeking ERs for internal use.

Wood waste Utilisation

Hydro Projects

Some highlights to date… Bulgaria First JI Project to be developed concluded an ERPA for 500,000 tCO 2 e in Sept 2003 Uganda First CDM baseline to be validated for PCF in Sub-Saharan Africa China Engaged by domestic project developers to develop and market 1.3 MtCO 2 e from new RE investments Validations 4 successful validations to date, 2 more underway

North Africa New market; Looking for new, quality projects; Renewables, waste to energy, energy efficiency, process change; > 70,000 tCO 2 e/annum

© CAMCO 2004 … Thank you.