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With Bill Clinton in town, Noble Group pledges to become carbon neutral

With Bill Clinton in town, Noble Group pledges to become carbon neutral

Hong Kong: Noble Group, a global supply chain manager of agricultural, industrial and energy products, announced its commitment to tackle the issue of climate change at the Clinton Global Initiative (CGI) Asia Meeting in Hong Kong today. The commitment to become a "Carbon Neutral Company" will be realized in a step-by-step approach extending the scope of the "Carbon Neutral Project" across Noble's business units over the next three years, with an estimated total value of US$10milllion.

Richard Elman, CEO of Noble Group, stated: "By going carbon neutral, Noble is working to not only reduce and offset its carbon footprint, but also to raise awareness among its employees, partners and communities. Together with the CGI, we can take the lead to change how businesses respond to the challenge of climate change."

The "Carbon Neutral Project" includes the identification and implementation of greenhouse gas (GHG) reduction measures as well as raising awareness within the company through internal "Lunch and Learn" programs and a "Going Green" website. Besides aiming to reduce specific GHG emissions from operations and offices by 5-10 percent, the "Carbon Neutral Project" will offset estimated emissions of 100,000-150,000 tCO2 per year.

To date, the project has offset GHG emissions from the following sources:
·        Noble beneficiary ships - one of the largest sources of company direct emissions
·        Noble headquarters in Hong Kong
·        All of the Noble Carbon Credits Group
·        The main operating centres in Singapore, Lausanne, London, Stamford and Sao Paolo

Carbon credits for offsetting are purchased from renewable and energy efficient projects in India that fulfill the requirements of the Voluntary Carbon Standard, the leading global standard for voluntary offsets. A third party, TÜV-NORD, has independently verified all emissions calculations and offsets.
The Clinton Global Initiative is a non-partisan program designed to turn innovative ideas into action. Environment, energy and climate change as well as global health and poverty alleviation are a major focus of the CGI.

In 2005, President Clinton established CGI to turn ideas into action and to help our world move beyond the current state of globalization to a more integrated global community of shared benefits, responsibilities, and values. By gathering world leaders from a variety of backgrounds, CGI creates a unique opportunity to channel the capacities of individuals and organizations to realize change. To fulfill the action-oriented mission of CGI, all members devise practical solutions to global issues through the development of specific and measurable Commitments to Action. [4/12/08]