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The Goldman Sachs Group Inc. and Blue Source LLC have formed an alliance that combines Goldman's global leadership in commodities trading and financial risk management with Blue Source's climate change portfolio. As part of the alliance, Goldman Sachs has purchased an equity stake in Blue Source.

Goldman Sachs will off-take, structure and market a broad range of verified emissions reductions resulting from certain greenhouse gas (GHG) reduction projects, in Blue Source's portfolio.

The alliance combines environmental market experience and skills that can provide climate change solutions for a broad array of U.S. companies. Blue Source has the resources and expertise to capitalize and develop to scale high-quality GHG reduction projects and Goldman Sachs can bring those reductions to a market increasingly eager to engage a low-carbon economy.

"This unique agreement is the next step for Blue Source as the U.S. carbon market evolves from voluntary to compliance," says Bill Townsend, CEO of Blue Source. "We have been able to develop a high-quality portfolio of independently verified emission reductions from projects based in North America, and this new alliance creates an exceptional opportunity to reach a broad range of offset buyers through a highly experienced and well-trusted institution."

Furthermore, the recently announced joint venture between Blue Source and certain affiliated investment funds of Och-Ziff Capital Management Group LLC provides a competitive source of funding to identify, develop and manage emission-related investments. This portfolio provides Goldman Sachs additional tools to help its clients manage GHG-related risks in both the voluntary and pre-compliance carbon markets.

SOURCE: Goldman Sachs Group Inc.




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