Calvert Portfolio Manager Sees Strong Year for Alternative Energy Opportunities Abroad

Predicts strength in foreign markets because "Europe, Asia and other regions are further along than the U.S in addressing climate change and oil dependency by embracing alternative energy technologies."


BETHESDA, Md., Dec. 12 /PRNewswire/ -- With rising oil prices, increasing regulatory/legislative constraints on carbon, and growing consumer demand for action, alternative energy companies are likely to experience strong growth in 2008. However, much of the benefit may flow to non-U.S. companies, according to Jens Peers, the Dublin-based portfolio manager of the Calvert Global Alternative Energy Fund (CGAEX). The Fund was launched on May 31, 2007 and is advised by Calvert Asset Management Company, Inc., investment advisor for Calvert, the first family and broadest array of socially and environmentally responsible mutual funds.

In highlighting the prospects of specific non-U.S. and U.S. companies, Jens Peers, head of ECO Investing at Dublin-based KBC Asset Management International Ltd. and lead portfolio manager of the Calvert Global Alternative Energy Fund, said: "Non-U.S. companies and markets will benefit from the improving prospects for alternative energy in 2008 because Europe, Asia and other regions are further along than the U.S in addressing climate change and oil dependency by embracing alternative energy technologies."

Bennett Freeman, Senior Vice President for Social Research and Policy, Calvert, said: "Calvert believes that companies--in all industries--must acknowledge and act now to address the climate change crisis. Global warming is at the forefront of Calvert's company analysis and environmental advocacy. With the Calvert Global Alternative Energy Fund, we are aligning our investment strategies and policy goals by offering our shareowners the opportunity to invest directly in climate change solutions. We are particularly proud that we have been able to do this with a truly global approach to focusing on the best solutions around the world."

Read More>>