LOS ANGELES, Nov. 11, 2010 (GLOBE NEWSWIRE) -- Green Globe International, Inc. (Pink Sheets:GGII) today announced that the company has expanded its relationship with FiscallyGreen(SM), which consults in a variety of specialized areas including valuations on equity transactions, financing, new SEC Climate Change Disclosure policies and sustainability auditing, to take advantage of grants and other credit programs and 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. Payments may be made up to 30% of the qualified cost basis of the project for specified energy properties in lieu of tax credits.
"FiscallyGreen has studied the tax credits available for renewable energy projects, and we believe that this is another opportunity for Green Globe International to become involved in sustainability projects in the U.S.," said Managing Director and CEO Steven R. Peacock. "With the resources and expertise that Green Globe currently has in the environmental credit markets, we intend to partner with FiscallyGreen to educate project developers, particularly those who have 'shovel-ready' projects, and assist them in securing funding through these various resources. We are already planning our first event in California and will look to broaden our reach into additional markets as soon as possible."
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.