updated 10/12/2010 9:16:44 AM ET 2010-10-12T13:16:44

LOS ANGELES, Oct. 12, 2010 (GLOBE NEWSWIRE) -- Green Globe International, Inc. (OTC:GGII) today announced an initial agreement with Green Giant Venture Fund, an internationally recognized carbon project developer, to implement sustainable solutions for clients initially in the United States, including monetizing carbon credits generated from the client's environmental improvements. Green Giant Venture Fund works with clients to structure, finance, build, and operate emission reduction projects and has experience developing projects including solar, biomass, biochar, biofuel, and recycling projects around the world. Several current U.S. projects have already been identified as targets of the joint venture.

Under terms of the initial agreement, Green Globe International will identify the best markets for lead generation in the U.S. that would include non-profit organizations, colleges and universities, cities and counties and other governmental agencies and potential project partners that might be interested in supporting community based sustainability projects; provide administrative support to the projects on behalf of the venture; and seek out grants and other governmental subsidy programs, which are available for such projects.

The plan for the venture will be to secure projects in the United States, then internationally, to deliver the products and services under contract, and to establish a global market for the carbon credits generated from each project. 

Green Giant Venture Fund has expertise and experience in Carbon Credit Project (CCP) Development and provides technical, political and legal support required for the project and client. The Fund will also advise as to the strategy and tactics for effecting a forward financing by framing a strategic partnership in the Carbon financial sector and by executing a Carbon Finance option (FSCCP) aimed at capitalizing the client's current and future (CCP). More information on Green Giant Venture Fund can be found at www.greengiantventurefund.com .

"There are significant opportunities for sustainability oriented projects in the United States that generate carbon credits, including several identified existing projects, and we look forward to working with Green Giant Venture Fund to assist in the design of a complete solution, including measuring and monetizing carbon savings generated from the environmental improvements of our clients," said Steven R. Peacock, CEO of Green Globe International. 

The Green Globe brand and program, which traces its roots back to the United Nations Rio de Janeiro Earth Summit in 1992, where 182 Heads of State endorsed the Agenda 21 principles of Sustainable Development, has primarily been used in the travel and tourism industry but is now being expanded to include a growing number of environmentally responsible businesses in a variety of market sectors. The Green Globe brand is an ideal symbol for the world's increasing awareness of environmental responsibility and response to global climate change.

The company encourages all shareholders and others interested in following the progress of the Green Globe brand to subscribe to receive email alerts whenever new information is made public. To subscribe, please visit http://www.greenglobeint.com/stayconnected/email/ .

About Green Globe International, Inc.

Green Globe International, Inc., through its 88% majority ownership in Green Globe, Ltd., a UK corporation, is the worldwide owner of the Green Globe brand, the recognized leader of sustainability certification and benchmarking programs, carbon footprint calculation and offset programs, and a broad range of consulting services. Green Globe International is an affiliate member of the United Nations World Tourism Organization and the World Travel & Tourism Council (WTTC), the business leaders' forum for the travel and tourism industry, is a major shareholder of Green Globe International. For more information on the company and its programs, please visit www.greenglobeint.com or call 888-528-0883.

For information on Green Globe Certification, please visit www.greenglobe.com . To see sustainable travel options, please visit www.greenglobe.travel .  

The Green Globe International, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6582

Safe Harbor Statement

This release contains forward-looking statements with respect to the results of operations and business of Green Globe International, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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