Goldman Sachs Invests In Company That Delivers Clean Power to Developing Countries

Goldman Sachs has recently invested in another carbon-offset company, in the latest sign of investment banks' interest in the area.

On Monday E&Co, a company focused on bringing clean power to developing countries, announced that Goldman had purchased a majority of its carbon-offsets portfolio.
Read the full story here.

The Wall Street Journal reported in late October that Goldman's investment in BlueSource indicated that the financial wizards were betting that the U.S. government is going to impose a cap-and-trade system for global-warming emissions sooner rather than later.

Goldman is announcing today that it will partner with Salt Lake City-based carbon-offset project developer Blue Source LLC. The company, backed by big-time private equity investors First Reserve Corp. and Och Ziff Capital Management Group, sells carbon credits. Neither Goldman Sachs or Blue Source would comment on the size of the investment, other than to say that Goldman would receive a minority stake in the company.

Blue Source's credits are generated from developing projects like carbon capture and sequestration used in enhanced oil recovery; the off-take and destruction or use of methane gas coming from coal mines, landfills, and waste-treatment facilities, and other initiatives to reduce emissions.

Comments

[JosChabs]

Another Government loophole!!! Please can the real leaders stand up. There should be no companies that sell carbon credits. In fact, there should be no industry for carbon credits. Let me try to understand. So as company A reduces its carbon output along comes company B to buy company A's improvements in order to stay within "LEGAL" limits and raise revenue, but our eco system still gets the carbon from company B because it did not invest in eco-friendly machine tools. Instead it is much cheaper to buy
"Carbon Credits". Who thought of this the same guys who invented the calculation for the derivatives market?!! Where's the improvement in such legislation?!!!!!

[Sapna]

Interesting picture of a sikh man in buffalo race...

[dadw5boys]

BUT THEY WON'T INVEST IN CLEAN POWER FOR THE USA ???????

WHAT A BUNCH OF DORKS !!!!!!!

[watchingthings]

Look at that guy go with them hayburners.