updated 10/27/2010 9:16:12 AM ET 2010-10-27T13:16:12

LOS ANGELES, Oct. 27, 2010 (GLOBE NEWSWIRE) -- Green Globe International, Inc. (Pink Sheets:GGII) today announced that the company is pursuing a new potential carbon credit monetization project for a major city in Brazil, as well as another targeted project for the U.S. market. The newly targeted projects, which are reflective of Green Globe International's global approach to carbon credit projects, have been presented through the company's agreement with Green Giant Venture Fund, an internationally recognized carbon project developer. 

Green Globe International has created marketing materials for the first targeted U.S. based carbon credit projects and will adapt the same material for international opportunities, including the South American project, as they are presented to the company. In the U.S., Green Globe International has targeted a city and a major school system for its first carbon credit monetization project proposals. The marketing program will target a wide variety of potential customers, including educational systems, (universities, college districts and public school districts); utilities; non-profit organizations; federal, state and local governments and agencies; military facilities; and other entities that are interested in a new revenue stream based on the good works already being accomplished.

"Even as we are working to secure our first project in the U.S., additional opportunities are being presented due to the global network we have developed, and we will continue to pursue projects that are deemed to be the most ideal given our capabilities" said Steven R. Peacock, CEO of Green Globe International.  

The company has also posted its Quarterly Report for the period ended September 30, 2010, to the OTC Markets website at www.otcmarkets.com . The report, which will allow the company to maintain its reporting status on the OTC Markets site, includes Green Globe International's $237,000 investment in Village Green Global, Inc., a private company that owns SmartWeb, a proprietary environmental reporting software. 

"This report is by far the most comprehensive quarterly statement that Green Globe has posted to the OTC Markets website, and we are pleased to have it available for our shareholders to view," added Mr. Peacock.

The Green Globe brand and program, which traces its roots back to the Unite d 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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