Finweek English Edition - - Openers - GUGU­LAKHE MASANGO

CAMCO IN­TER­NA­TIONAL, a Lon­don­listed group, has qui­etly set up of­fice in South Africa to seek out op­por­tu­ni­ties in projects aimed at re­duc­ing green­house gas emis­sions.

Camco In­ter­na­tional, which was listed on the Lon­don Stock Ex­change’s Al­ter­na­tive In­vest­ment Mar­ket in 2005, pro­vides ser­vices to project de­vel­op­ers seek­ing to de­velop and reg­is­ter emis­sion re­duc­tion projects.

Mar­ket talk sug­gests that Camco In­ter­na­tional is in talks with Eskom, one of SA’s big­gest pol­luters, with the aim of as­sist­ing it to iden­tify and de­velop green­house gas emis­sion re­duc­tion projects.

Camco In­ter­na­tional’s CE Tris­tan Fis­cher was not pre­pared to com­ment on the pos­si­bil­ity of as­sist­ing Eskom with de­vel­op­ing car­bon re­duc­tion projects.

Speak­ing to Fin­week from his Lon­don of­fice, Fis­cher, said: “We are ex­tremely hope­ful that our South African op­er­a­tion will be bring­ing on board a num­ber of clean de­vel­op­ment mech­a­nism (CDM) projects.”

South Africa is one of the largest green­house gas emit­ters, and for­eign buy­ers of car­bon cred­its are likely to be in­ter­ested in do­ing busi­ness with gas emit­ters. “Through our net­work of car­bon buy­ers, there has been sig­nif­i­cant in­ter­est in car­bon cred­its com­ing from SA,” says Fis­cher.

Car­bon buy­ers from Canada, Den­mark, the UK and Ja­pan are likely to be in­ter­ested in buy­ing car­bon cred­its in SA.

Camco In­ter­na­tional, which opened its of­fice in South Africa in Oc­to­ber 2006, an­tic­i­pates that the CDM in­dus­try in South Africa could pro­duce be­tween 500m and 600m tons of car­bon cred­its.

Hope­fully Camco In­ter­na­tional will be able to se­cure CDM projects in the South African mar­ket, which has been hav­ing teething trou­ble.

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