Ft Tre Discussion Threads

[wormcatcher] 26/9/2008 09:37

Asparks - fair enough, but this company is not just about emissions trading, they have a diverse investment in renewable energy projects and a strong cash position.
I have a core investment for the long term which is showing a profit and trade in and out with small positions on the peaks and troughs.
Happy to keep investing.

[praipus] 26/9/2008 09:22

asparks - how is emissions trading linked to current problems in financial markets?

[asparks] 26/9/2008 09:10

worm - unfortunately emissions trading is too linked to current problems in financial markets. I wont be investing here.

I suggest renewable energy companies such as HEGY and PFLM are better options

[wormcatcher] 26/9/2008 09:07

Just a small top up today of 1241 shares.

[wormcatcher] 23/9/2008 09:11

Going to have to top up soon at these prices.
Results 16th October.

[wormcatcher] 19/9/2008 15:15

Numis Target Price 230p

[wormcatcher] 17/9/2008 08:52

LOL - could buy one and wait for HMG to bail me out.
Gonna sit on the side lines for a while and see how things pan out.

[jiopl] 16/9/2008 19:54

Wish I had sold now!
If things carry on like this I think there are going to be some real bargains around when you do sell your house.
Ever thought about buying a whole investment bank ;-)

[wormcatcher] 16/9/2008 08:25

Yes I am watching closely - still waiting for funds to be released though.
Final results in a few weeks time.
I was reading about Lehman's portfolio yesterday - seemed to have a negative effect on climate exchange, but couldn't work out if it would have any impact on TRE. Will be interesting to watch over the next week or so.

[jiopl] 16/9/2008 00:29

Apparently Lehman will be selling their carbon portfolio during the week,I don't know big it is but hopefully not so big that a fire sale would push down prices.
If it does then it could be a short term buying opportunity in TRE.
It will also be interesting to see what happens to Merrill's position in TRE during the weeks ahead.
I remain long as I agree that TRE is undervalued.

[gdp2] 06/9/2008 19:18

Bought in on Friday, believe TRE's NAV to be around 225p so seeing this as a very undervalued share at the moment.

[wormcatcher] 21/8/2008 08:14

That was good timing jiopl - well played.
Yes Praipus, the future looks good on this one.
Wish they'd hurry up and buy this house!

[praipus] 20/8/2008 21:23

Found this on the ECO thread you have never been more right wormcatcher good luck with the house move.

greenisgood - 20 Aug'08 - 19:29 - 128 of 129


For those unfamiliar with the significance of the recently announced EU CITL link-up to the UN system for ECO the following article from poweralternatives.com should explain:

"August 20, 2008
Carbon Trading: The EU And The UN Finally Get Their Ducks In A Row

By Ivor Watt

It may not have been widely heralded, but earlier this month it was announced that testing to establish communication between the UN and the European Union carbon registries had been successfully completed. Unheralded, yes, but for the EU's carbon trading system, and also for several UK-listed companies, vitally important.

Although the EU Emissions Trading System (ETS) is the most - indeed the only - established mandatory cap and trade system for carbon emissions in the world, it has been under threat of stalling of late, due to the lack of communication with the UN International Transaction Log. This disconnect was threatening to unhinge the relationship between polluters in the developed world and the creators of carbon credits in the developing world.

But the latest moves mean that carbon emissions reduction certificates created in the developing world under UN initiatives can now be transferred into the EU system, freeing up what was threatening to become a debilitating bottleneck in the system. The official launch of communication between the two systems hasn't happened yet but should do so before the end of the year.

The final confirmation of the two systems' ability to communicate removes one of the last major uncertainties in the EU's carbon trading system and should now allow member states to issue their national allocation plans for domestic industries, which determine how much carbon companies are allowed to emit. Some countries had been using the lack of communication as a reason to withhold their allocation plans, adding to the uncertainty about the system.

Confirmation of communication between the registries is of great significance to several companies that specialise in aggregating portfolios of carbon credits in the developing world, where they are issued under the auspices of the UN's Clean Development Mechanism, and then selling them into the EU system to companies who are overshooting their emissions targets. These carbon trading companies were facing up to a potential cash flow problem in that credits they had forward sold, or promised, to clients were stuck in the system and unavailable for physically delivery. As a result their payment for said credits was also held up.

But now Camco International, EcoSecurities and Trading Emissions can all continue to build their portfolios in the confidence that the credits produced can be sold into the EU system. Investors who have seen the value of their investments in these companies slide in the past year due to uncertainties in the system should begin to see the share prices in these companies recover, as they recover the ability to prove the value inherent in their portfolios. All three companies have seen their share prices suffer as investors have switched to more established sectors. In the meantime, sentiment toward carbon credit portfolio aggregators has not been helped by the demise of one-time rival AgCert, nor by a profit warning from EcoSecurities issued last year.

Another company which has been unaffected by such tribulations, but which will also welcome the news of the removal of further uncertainty from the EU ETS system is Climate Exchange. Climate Exchange has been one of the biggest successes on London's Alternative Investment Market (Aim) over the past year, as it has enjoyed being perceived as a proxy for the growth of the carbon trading market itself, through its operation of the European Climate Exchange, the dominant clearing platform for carbon trades in the EU. With volumes rising incessantly and Climate Exchange seemingly maintaining its market share, the the removal of further uncertainty can only help its cause.

As the carbon market continues to mature, and the communication between the two registries aids this, the participants who have struggled to establish themselves over the past few years may finally begin to see the fruits of their labours realised

[wormcatcher] 19/8/2008 17:30

Probably a good time to buy jiopl, but still waiting on house sale so no spare cash right now.
GL

[jiopl] 19/8/2008 11:31

Hi back in this morning,I thought the trading statement was positive and CER prices seem to be recovering so hopefully the share price will follow soon.

[wormcatcher] 15/7/2008 08:17

Hi jiopl,
I reduced last week but will continue to have a small position.
Agree with you on cash, have been topping up my savings accounts recently; unfortunately have a house to sell and having a great time trying to shift that!
GL and may see you back at some point

[jiopl] 14/7/2008 20:18

Hi I sold this morning for a small profit.
I still think things look good for TRE though with 2012s now at €25.30.
I would just prefer to have the cash in the bank in these interesting times.
By the way apparently CERs are a non correlating asset class so I think companies like Trading Emissions could be a good addition to a long term portfolio and I will probably buy in again at some point.


Good luck to wormcatcher and all holders. :-)

[wormcatcher] 01/7/2008 08:42

One of these days I'll get the shareholdings right - adds up to more than 100% at the mo.

[wormcatcher] 01/7/2008 08:36

Nice start to the day.

[jiopl] 30/6/2008 17:03

From point carbon

"The difference in price between the 2008 EU allowance (EUA) and the 2008 UN backed offset credit, known as certified emissions reduction (CER,) will narrow sharply in the second half of the year, says a report from Societe Generale."

2008 CER hit €21 today
2012 CER closed at €23

:)

[wormcatcher] 26/6/2008 09:05

...and pushing on nicely today

[jiopl] 25/6/2008 20:07

Good to see this close above 142.

[jiopl] 24/6/2008 22:04

I see 2012 CERs spiked to €21.70 today before falling back to €21.40!
The narrowing CER/EUA spread could be good for TRE if they are going to be doing swaps.

[wormcatcher] 17/6/2008 08:27

... and a nice little profit on their 5m shares in econergy