GE AES Greenhouse Gas Services Announces 'Rigorous' Standard for New Greenhouse Gas Credit Program

Energy Resource, July 25, 2007

ENERGY RESOURCE-25 July 2007-GE AES Greenhouse Gas Services Announces 'Rigorous' Standard for New Greenhouse Gas Credit Program(C)2007 JeraOne - http://www.jeraone.com

GE AES Greenhouse Gas Services, a joint venture between GE Energy Financial Services and AES Corporation, today announced what it describe as a "rigorous and comprehensive standard" for the creation and sale of its greenhouse gas credits in the United States.

The standard will ensure that credits produced by the joint venture are scientifically verified and provide a positive, measurable environmental benefit, the companies said. The standard was announced in New York and will back the first U.S. credit card dedicated to helping reduce cardholders' greenhouse gas emissions, the GE Money Earth Rewards Platinum MasterCard announced today by GE.

Under the standard, GE AES Greenhouse Gas Services expects to generate an annual production volume of 10 million metric tons of greenhouse gas credits by 2010. The joint venture will market these credits to companies that want to reduce the environmental impact of their operations or provide environmentally friendly products or services.

The standard and criteria on the measurement, monitoring, verification and eligibility of emissions credits generated from coal mine methane and landfill methane destruction are available at www.ge-aes.com. GE AES Greenhouse Gas Services plans to publish additional methodologies over the next six months for wastewater treatment, agricultural waste management, energy efficiency, renewable energy, and reforestation.

"The combination of GE Energy Financial Services - a leading energy investor with more than $14 billion in assets - and AES - one of the world's largest global power companies - will bring a new level of experience, reach, and trust to the greenhouse gas reduction market," said Kevin Walsh, managing director and leader of renewable energy at GE Energy Financial Services.

Key components of GE AES Greenhouse Gas Services include:

-- Mandatory third-party verification backed by empirical data collected in compliance with methodologies developed with experts in greenhouse gas reduction project management.

-- Permanent retirement of credits on behalf of customers and a strict prohibition of "double counting" of credits.

-- Permanent physical reductions in greenhouse gas emissions where possible, such as through the destruction of methane gas by combustion or contractual provisions guaranteeing that the promised reductions are delivered, such as through reforestation projects.

- Credit-producing projects must be voluntary and not required by law, regulation, legal obligation, or common industry practice.

-- Projects must meet all applicable environmental laws and standards.

The joint venture consulted with experts in the development and management of greenhouse gas reduction projects, including Raven Ridge, SCS Engineers, CH2M HILL, and The Nature Conservancy. ClimateCHECK, a leader in the development and application of greenhouse gas standards, advised the venture directly and validated the methodologies.

The joint venture's standard has received formal certification under GE's ecomagination program. To achieve this certification, GE worked with GreenOrder, a sustainability strategy and marketing firm, to provide independent, quantitative environmental analysis and verification of GE's ecomagination claims.

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