Goldman Sachs, Blue Source, CE2 Carbon Capital complete North America’s largest carbon offset transaction

NEW YORK, SALT LAKE CITY & SAN DIEGO, USA: e Goldman Sachs Group, Inc. (NYSE: GS), Blue Source, and CE2 Carbon Capital announced a $12 million US carbon offset transaction. This is the largest publicly announced US offset transaction to date and signifies confidence in the role carbon offsets will play in a U.S. regulated carbon market.

The transaction involves offsets originating from Blue Source’s portfolio of emission reduction projects. The offsets are generated from U.S. based projects including forestry, landfill gas and coal mine methane.

These projects meet the rigorous quality standards of the Climate Action Reserve and Voluntary Carbon Standard. Included in the transaction is the Alligator River Forestry Project in North Carolina, the first forestry project located outside the state of California to be listed by the Climate Action Reserve.

Goldman Sachs and Blue Source have a strategic alliance in which Blue Source develops and manages projects that generate carbon offsets and Goldman Sachs off-takes, structures and markets the Blue Source offsets. Through the strategic alliance, the companies provide carbon offset products to a broad range of buyers in the North American market.

CE2 Carbon Capital is one of the largest investors and owners of carbon commodities and carbon emission reduction projects in the US The transaction underscores CE2 Carbon Capital’s continued focus on investments in environmental markets.

“This transaction is an important addition to our expanding portfolio of carbon commodities and projects under ownership and in development,” said Greg Arnold, President of CE2 Carbon Capital. “This transaction also expands the US carbon offset market by better defining transaction structure and value, enabling capital to flow more freely.”

“We are pleased to be involved in this landmark transaction and drive activity within the US carbon economy,” said Greg Spencer, President of Blue Source. “This is a continuing signal both to offset purchasers and potential project owners that capital is moving, and there is a high degree of confidence that investment returns can be achieved today.”

The transaction creates environmental and economic benefits as the U.S. works toward achieving emission reductions through state, regional and federal cap-and-trade programs.