1. Transforming Emissions Reductions into Carbon Assets © CAMCO 2003

2. © CAMCO International Options for Securing Carbon Finance Purchaser of credits carries out CDM development work; Project investors carry out CDM development work themselves; Project investors hire a consultant to carry out CDM development work; Project investors partner with an entity experienced in CDM project development to carry out CDM development work.

3. © CAMCO International CAMCO Approach _PARTNERSHIP Provide a comprehensive service to projects - from carbon asset opportunity identification, optimisation through to realisation (ERPA closure); Rely on own experience and expertise to manage risks and regulatory uncertainties associated with new international emissions trading markets – allowing projects to EXTERNALISE these risks/costs; Demonstrate commitment and belief by sharing risks in developing projects for rewards when successful; Respect all normal due diligence requirements for investments in developing/emerging economies; Work with local partners to ensure compliance with national regulations and priorities. © CAMCO 2003

4. © CAMCO International Founders & Inheritance Carbon expertise & know-how Project development experience Personnel Reputation © CAMCO 2003

5. © CAMCO International Primary CAMCO Services Carbon asset identification and valuation – project due diligence, quantification and valuation of emission reductions of various provenances; Asset optimization through project structuring and risk mitigation; Asset realization through preparation of baselines and monitoring protocols, managing projects through the validation process; Marketing, placement and support in negotiation of ERPAs - matching projects with appropriate buyers, contract structuring, liability and risk management.

6. © CAMCO International Primary CAMCO Markets ER producers/sellers ER buyers

7. © CAMCO International CAMCO Clients to Date Emission Reduction Generators > Investors in: biomass fuel-switching, landfill gas, coal-bed methane, wind, hydropower, community renewables; > Low-carbon project developers seeking to secure an additional revenue stream for their projects. Emission Reduction Purchasers > World Bank Carbon Funds (PCF and CDCF); > Dutch Government and Other European institutional buyers (Austria, Finland, Sweden); > Corporate clients seeking to generate ERs for internal use.

8. © CAMCO International Example Project – Wood Processing Plant 14MW biomass boiler; Displacement of coal and removal of methane-emitting biomass waste; Annual ERs of 75,000 tCO 2 e CAMCO’s Role Assisted project design Identified and quantified carbon asset; Developed project baseline & MP; Managed successful validation process; Provided support in ERPA negotiations.

9. © CAMCO International James Graham, General Manager CAMCO International London & Vienna james.graham@camco-international.com www.camco-international.com © CAMCO 2003 THANK YOU ! !