LOS ANGELES, Dec. 9, 2010 (GLOBE NEWSWIRE) -- Green Globe International, Inc. (Pink Sheets:GGII) today announced the release of the December 2010 issue of its shareholder newsletter, which reviews the company's recent shift in strategy for the Green Globe brand and its pursuit of new opportunities in the emerging U.S. and global green economy..
The December 2010 Green Globe newsletter has been added to the company's website at http://www.greenglobeint.com/articles/1, and a notice of the newsletter's release will be distributed to subscribers of the company's website-based mailing list.
The December newsletter reviews the recent settlement of a brand dispute with the Green Building Initiative (GBI), the exclusive owner of the U. S. trademark, GREEN GLOBES(R), which is used in connection with an assessment protocol, rating system, and guide for environmentally friendly building operations and designs of new and existing buildings in the United States. The settlement has been filed with the United States District Court for the District of Oregon.
Under terms of the settlement agreement, Green Globe International will not offer assessment or certification of building design or building operation services under the Green Globe brand within the United States. Since Green Globe International has not historically and does not intend to offer such services in the United States, the settlement is not expected to negatively impact the company's current focus of operations. The settlement comes at a time when Green Globe International is seeking to shift operations of the Green Globe brand back to Green Globe Limited, the UK corporation where it originated, and continue to offer a variety of sustainability services to clients both in the U.S. and abroad.
As part of its strategy to shift majority ownership of the brand back to Green Globe Limited, Green Globe International CEO Steven R. Peacock has accepted an appointment to serve as director of Green Globe Limited.
The newsletter also highlights the company's expanded relationship with FiscallyGreen(SM) to take advantage of grants and other credit programs that are available to help finance renewable energy products. One such program is under the American Recovery and Reinvestment Tax Act of 2009, which is designed to preserve and create jobs, promote economic recovery and invest in infrastructure that will provide long-term economic benefits. Grants may be funded up to 30% of the qualified cost basis of the project for specified energy properties in lieu of tax credits.
In his newsletter greeting to shareholders, Mr. Peacock wrote, "The investor market for tax credits has been severely reduced due to the economy, so this grant provides government guaranteed financing of these renewable energy projects if there are no buyers for the tax credits, thus expanding our revenue model. Our strategic partner in this area is Jeff Garrison of FiscallyGreen, who has studied this area in great depth and is already working on several projects in tandem with our company."
He also asserted that Green Globe International will be evaluating its certification licensees and exploring the possibility of bringing licensed services in the U.S. "in house." Additional upcoming news is expected on each of these topics.
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.
The Green Globe International, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6582
For information on Green Globe Certification, please visit www.greenglobe.com. To see sustainable travel options, please visit www.greenglobe.travel.
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.