FinSoul has learned that Camco International Ltd, a UK based carbon offset company, has announced plans to expand its U.S. emission reduction operations in 2010.
The firm which trades carbon offsets under the Kyoto Protocols Clean Development Mechanism (CDM) said that it expected carbon issuance to increase this year as the number of green projects, including coal mine methane, waste heat recovery and others that got their first verifications saw an increase of 80% since September ’09.
"The Copenhagen summit resulted in a number of positive outcomes for our business. Furthermore, the latest developments in the USA present substantial business opportunities for the company which we will pursue during 2010," FinSoul believes the Chief Executive of Camco was quoted as saying.
Camco added that the proposed amendments to the CDM process, aimed at streamlining the application process, made at the Copenhagen climate summit last year and expected to take effect in the second part of the year would bring better clarity around delivery and registration as well as cutting the regulatory timelines.
The firm, currently expanding its U.S. operations in the agricultural sector, announced that it had a strong cash position with a cash balance of $40.18 million at the end of December 2009, FinSoul understands.
