DOLFIO SERVICES

Investment Services
Dolfio is a specialist in rating carbon funds and projects. We analyze more than 150 parameters for each fund or project we review and perform additional qualitative research.

• For a overview of our rating methodology, click here.
• For an example of fund rating, click here.

Building on that rating expertise, Dolfio offers an investment service using the following 5 step process:



1. Investor's profile determination:
Through an interview with the investor, we present our methodology, and if needed, we provide him with background information on the current carbon and renewable energy markets. We identify the investment objectives, the desired risk/reward level and other characteristics for potential carbon and energy assets, and check their impact on the investor's portfolio.

2. Quantitative and Qualitative Screening:
The investor's unique profile is translated into thresholds for our quantitative screens. We set multiple parameters, such as the liquidity, volatility, returns, and our proprietary ratios to generate a short-list of assets. We then review the information on each asset for an initial qualitative analysis, to come up with a final short list meets the criteria specific to the investor.

3. Investment Case (Optional):
While some investors prefer to perform their own financial and technical review of the projects, others would like us to build the investment case. What is the business model? What are the assumptions underlying the financial projections? Has the project gone through the certification process, and if not, what is required for it? What information is missing, and should we send an auditing team onsite?

4. Due Diligence:
During a review of the short list of assets with the investor, we outline any area of concern raised during the screening phase. The investor fine-tunes the depth of due-diligence required, from a telephone interview to onsite visits at the manager's headquarters or on the project site. We emphasize risk management and the monitoring of .the project or fund by its manager.

5. Reporting and monitoring:
Execution can make or break a good investment. That's why we provide on-going reporting and monitoring of the assets through by communicating with various stakeholders. We alert the investor when issues arise. When necessary, we can send an inspection team to the project sites.

Strategic Consulting Services Dolfio provides strategic carbon and energy advice using a blend of engineering and financial expertise. To guarantee its objectivity and to avoid any conflict of interest, Dolfio only invoices its clients and does not receive retrocession fees from financial services companies, project developers/brokers or clean tech companies.

Dolfio helps clean tech executives think strategically about each REC or carbon market, and leverage the current and upcoming carbon regulations into their value proposition. Their clients thus get additional incentives to invest.

We also advise CFOs and Sustainability, Corporate Affairs and Communication Directors in defining their carbon and energy strategy. This includes:

• establishing a carbon-energy balance sheet
• anticipating impacts of carbon and energy prices on their sector's value chain and new brand imperatives
• building energy and carbon price scenarios into investment decision-making.

Finally, we contribute to our global community through pro-bono consulting to NGOs and by responding to media inquiries on carbon markets.