Goldman Sachs has acquired an undisclosed minority equity stake in Blue Source as part of a strategic alliance with the climate change offset company.
As a result of the alliance, the bank holding company and global investment bank will structure and market verified emission reductions, or offsets, resulting from greenhouse gas reduction projects in Blue Source’s portfolio.
Goldman said in a statement there is growing interest in the carbon market in the US despite the purchase of offsets presently being voluntary and will offer clients immediate access to emission reductions.
Och-Ziff in August committed up to $500 million to a joint venture with Blue Source to fund the development of carbon infrastructure projects. The asset management firm also purchased an undisclosed minority equity stake in the company.
In September 2006, energy-focused private equity firm First Reserve acquired a 50 percent equity stake in Blue Source.