May
2
2007

ICF International Study Finds €5.6 Billion in Overall Capital is Now Subscribed to a Variety of Carbon Funds

Study Evaluates 50 Different Carbon Funds to Assist Participants in the Carbon Market

 

 

Cologne, Germany, May 2, 2007 -

Today at Carbon Expo 2007, ICF International (NASDAQ: ICFI) is releasing a comprehensive report entitled Carbon Procurement Vehicles: Investor’s Guide 2007. The past few years have seen a multitude of new carbon procurement vehicles and carbon funds, which offer investors another means of participating in the carbon market. ICF’s updated study enables investors to understand the characteristics of carbon procurement vehicles and make qualified decisions when (a) buying or selling carbon credits to these entities, or (b) investing for compliance or voluntary reasons. The study is based on in-depth interviews with carbon funds managers and thorough analysis of publicly available information. Procurement vehicles are analysed in depth according to evaluation criteria differentiated for investors, buyers, and sellers of carbon credits.

“Several key developments have occurred in the carbon funds market since late 2005 when we undertook our previous edition of this study,” said Natalia Gorina, senior consultant in ICF’s London office. “The newest funds entering the market are designed to generate cash returns for investors rather than carbon credits for compliance purposes. Also, carbon funds are moving upstream, from a process of simply signing Emission Reductions Purchase Agreements to focusing on direct project investment and development. Another key trend is increased interest, shown by several funds, in carbon asset classes in the voluntary segment of the carbon market.”

“Our analysis shows that the number and subscribed capital of carbon procurement vehicles have grown steadily in the past few years. There are now 50 different carbon procurement vehicles with 5.6 billion euros of subscribed capital as of April 2007,” said Abyd Karmali, managing director of ICF’s European operations. “The overall profitability of these vehicles is still to be demonstrated. Their main challenges are the ability to source high-quality projects in a highly competitive market and the ability to capitalise on price differentials between primary and secondary carbon credit markets. In our view, so far only a few vehicles disclose adequate information on their operational and financial performance. We welcome the recent announcement from rating agencies, which intend to rate carbon funds to ensure greater transparency in the market.”

 

 

About ICF International

ICF International (NASDAQ: ICFI) partners with government and commercial clients to deliver consulting services and technology solutions in the energy, environment, transportation, social programmes, defense, and homeland security markets. The firm combines passion for its work with industry expertise and innovative analytics to produce compelling results throughout the entire programme life cycle, from analysis and design through implementation and improvement. Since 1969, ICF has been serving government at all levels, major corporations, and multilateral institutions. More than 2,000 employees serve these clients worldwide. ICF’s Web site is www.icfi.com.

Caution Concerning Forward-looking Statements

This document may contain “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995—that is, statements related to future—not past—events, plans, and prospects. These statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “guidance,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “seek,” “should,” “will,” “would,” or similar words. You should read statements that contain these words carefully because they discuss our future expectations, contain projections of our future results of operations or of our financial position, or state other forward-looking information, and are subject to factors that could cause actual results to differ materially from those anticipated. For ICF, particular uncertainties that could adversely or positively affect the Company’s future results include but are not limited to: risks related to the government contracting industry, including the timely approval of government budgets, changes in client spending priorities, and the results of government audits and investigations; risks related to our business, including our dependence on contracts with U.S. Federal Government agencies and departments and the State of Louisiana; continued good relations with these and other customers; success in competitive bidding on recompete and new contracts; performance by ICF and its subcontractors under our contract with the State of Louisiana, Office of Community Development, including but not limited to the risks of failure to achieve certain levels of program activities, termination, or material modification of the contract, and political uncertainties relating to The Road Home program; uncertainties as to whether revenues corresponding to the Company’s contract backlog will actually be received; the future of the energy sector of the global economy; our ability to attract and retain management and staff; strategic actions, including attempts to expand our service offerings and client base, the ability to make acquisitions, and the performance and future integration of acquired businesses; risks associated with operations outside the United States, including but not limited to international, regional, and national economic conditions, including the effects of terrorist activities, war, and currency fluctuations; and other risks and uncertainties disclosed in the Company’s filings with the Securities and Exchange Commission. These uncertainties may cause ICF’s actual future results to be materially different than those expressed in the Company’s forward-looking statements. ICF does not undertake to update its forward-looking statements.

For Immediate Release
UK Contact: Natalia Gorina
+44.20.7092.3014

US Contact: Stacey Hohenberg
1.703.218.2504

 
 
 

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