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Natsource Creates Environmental Action Desk to Serve Retail Emissions Trading Market; 'Virtual' Desk Kicks Off with Greenhouse Gas and SO2 Trades.

Business Editors

NEW YORK--(BUSINESS WIRE)--June 7, 2000

Natsource(R) LLC announced today the launch of its Environmental Action Desk, a virtual emissions brokerage operation serving the emerging retail market for emissions permits.

Natsource also announced the desk's first trades, with the execution of permit transactions in the greenhouse gas and SO2 markets.

The Environmental Action Desk was created to facilitate retail trades involving a purchase of emissions reduction credits by an individual or non-profit group as an environmental or educational venture, as opposed to a purchase of the same credits by a potential emitter or market trader. Those targeted by the Environmental Action Desk include environmental and charitable organizations seeking to purchase and retire credits for ecological benefit and educational institutions using the markets as a learning tool.

"The retail market in emissions trading is vibrant, and organizations view it as a new way to make a statement on the environment," said Jack Cogen, President of Natsource. "The Environmental Action Desk caters directly to these groups by leveraging our brokerage expertise in emissions markets and our global reach to create a user-friendly trading structure facilitating retail trades."

The Environmental Action Desk is a virtual brokerage operated through the Internet. The desk is accessed via Natsource's Web site at: http://www.natsource.com/environmental/action_desk.asp. Retail trades are conducted on the site via e-mail or fax and are administered by a retail trading expert. Retail trades are executed by the Natsource emissions trading desk. The Environmental Action Desk was inaugurated with two trades, one each in the greenhouse gas and SO2 emissions markets.

The GHG emissions reduction credits were purchased through the Environmental Action Desk by students at Los Altos High School, in Los Altos, California. The school's Environmental Club purchased several hundred tons of credits generated by forest sequestration projects in Panama led by Futuro Forestal. The credits are verified by Centro Cientifico de los Tropicos, a nonprofit organization headquartered in San Jose, Costa Rica. The Environmental Club will permanently retire the credits.

In addition, the Center for Neighborhood Technology purchased several tons of SO2 credits through the Environmental Action Desk. The Center, a nonprofit organization dedicated to sustainable urban development, will retire the allowances to ensure the reduction of emissions and maximize environmental benefit.

"The transactions with the students at Los Altos and the Center for Neighborhood Technology are indicative of the types of retail trades the Environmental Action desk hopes to facilitate," said Fran Morrill, Product Manager of the Environmental Action Desk at Natsource. "Environmental and student groups have needs quite different from most companies participating on the institutional side. The retail market requires more emissions markets education and an ease of execution that we can provide through the Environmental Action Desk."

In addition to brokering retail trades, the Environmental Action Desk will soon provide extensive background on emissions trading, including informational materials on market basics and educational materials to assist schools in developing environmental curriculum. The Desk is Web-based, providing information tools online and allowing for Internet execution of trades. "Many of these organizations and students are inclined to the Internet medium, and the Environmental Action Desk is tailored directly to the Web," added Ms. Morrill.

Environmental Action Desk can be contacted at GHGinfo@natsource.com or call +1-212-896-2196.

Natsource(R) LLC is a leading broker of energy related products and participates in the power, natural gas, coal, weather hedging and emissions allowance credit markets. Headquartered in New York, Natsource's client base includes over 600 global companies who are leaders in the utility, coal, oil and natural gas markets, as well as the investment and commercial banking communities. Natsource is fully owned by international money broker Tullett & Tokyo Liberty, giving it global reach in all of the major financial centers.
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Publication:Business Wire
Date:Jun 7, 2000
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