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Merrill Lynch Launches Innovative Climate Change Solution: Merrill Lynch Green & GoldSM
LONDON, April 22, 2008 — Merrill Lynch, with support from ICF International, today announced the launch of Merrill Lynch Green & Gold, an innovative full-service climate change solution with a strong focus on sustainability.
Merrill Lynch Green & Gold is intended for companies in the Americas, Asia and Europe that do not currently face a regulatory requirement to reduce carbon emissions but that wish to proactively develop a carbon strategy that identifies financial opportunities and enhances their brand in light of growing concerns about climate change. Its aim is to help companies identify potential win-win opportunities that simultaneously reduce emissions and costs. Companies seeking to attain a carbon-neutral position by offsetting any residual emissions can protect their reputation through procuring carbon credits with the highest sustainability attributes in the voluntary carbon market.
ICF International will support the implementation of Merrill Lynch Green & Gold and assume responsibility for identifying and assessing each client's carbon footprint and total emissions and will work with these clients to identify potential opportunities to reduce emissions through measures such as improving energy efficiency.
Abyd Karmali, managing director and global head of carbon emissions, Merrill Lynch, said: "We are delighted to be working with ICF International to launch Merrill Lynch Green & Gold. Our view is that the carbon market, now worth $70 billion, has demonstrated that it provides the most cost-effective approach for companies to reduce and offset their emissions of greenhouse gases. The market must, however, continue to grow on a foundation of environmental integrity. Demand in the rapidly growing voluntary carbon offsets market is shifting towards emission reductions that provide stakeholders with an independent guarantee of environmental sustainability and credibility. Our decision to finance and distribute carbon credits with a strong hallmark of sustainability is aligned with our objective of promoting environmental stewardship. Merrill Lynch is firmly committed to providing innovative solutions to our clients in the carbon market."
Merrill Lynch will provide clients with the highest sustainability carbon emission offsets (carbon credits) and access to its full suite of proprietary carbon finance products. Carbon credits offered include those that meet the Gold Standard VER, Gold Standard CDM, and Climate, Community, and Biodiversity Alliance (CCBA) standards which carry the endorsement of leading environmental and conservation NGOs. Merrill Lynch is one of the world's leading liquidity providers to the global carbon markets and provides clients with a range of risk management and carbon finance solutions.
Sudhakar Kesavan, chairman and CEO of ICF, said: "We are extremely pleased to work with Merrill Lynch on Merrill Lynch Green & Gold. ICF relishes the opportunity to work with one of the world's leading financial institutions to address perhaps the most critical issue of our time — climate change. Through our collaborative efforts, we will help companies obtain high quality, cost effective carbon credits in the developing global carbon market."
About Merrill Lynch
Merrill Lynch is one of the world's leading wealth management, capital markets and advisory companies with offices in 40 countries and territories and total client assets of approximately $1.6 trillion. As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide. Merrill Lynch owns approximately half of BlackRock, one of the world's largest publicly traded investment management companies with more than $1 trillion in assets under management. For more information on Merrill Lynch, please visit www.ml.com.
About ICF International
ICF International (Nasdaq: ICFI) partners with government and commercial clients to deliver consulting services and technology solutions in the climate change, energy, environment, transportation, social programs, and national and homeland security markets. The firm combines passion for its work with industry expertise and innovative analytics to produce compelling results throughout the entire program life cycle, from analysis and design through implementation and improvement. Since 1969, ICF has been serving government at all levels, major corporations, and multilateral institutions. More than 3,000 employees serve these clients worldwide. ICF has advised more than 60 of the FT Global 500 and a variety of governments on aspects of their climate strategy. For more information: http://www.icfi.com.
Contact Media Relations:
Sarah-Jane Purvis 44.0.207.995.2289
sarahjane_purvis@ml.com
