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First Gold Standard VER Registry Transfer

May 2008 - 3Degrees, a provider of green power and greenhouse gas (GHG) verified emission reductions (VERs), conducted the first-ever transfer on The Gold Standard Foundation's Voluntary Emission Reduction (VER) Registry earlier this month.

Under the agreement, 3Degrees will retire 1000 metric tons of carbon dioxide emission reductions from Meridian Energy's approximately 90-MW wind energy project in Manawatu, New Zealand on behalf of its customer, News Corporation. The New York-based diversified entertainment company is simultaneously purchasing the Gold Standard verified offsets from 3Degrees as part of its company-wide commitment to becoming carbon neutral by 2010. To date, News Corp.'s total carbon footprint has been approximately 600,000 to 650,000 tons per year. In late 2007, the company purchased 60,000 offsets derived through a wind energy project in Maharashtra, India to help meet that goal.

The Gold Standard Foundation serves as a certification body and provides a registry for offsets they certify. The Gold Standard VER Registry, which was developed and is maintained by APX, Inc., prevents double-counting of Gold Standard VER credits and provides numerous public reports and a full audit trail of all transactions to ensure their integrity. The Gold Standard is distinguished from other carbon standards by its requirement that a project implement additional features that contribute to local sustainability. In the case of the New Zealand wind project, these included incorporating the wind farm into tourism and educational opportunities to the public. The visitor car parking area located underneath one of the turbines attracts an average of 400 cars per week. In addition, the wind farm provides an additional income stream for local farmers while using only a small portion of their land for the turbines.

News Release - First-Ever Transfer on Gold Standard Voluntary Carbon Reduction Registry Conducted by 3Degrees

3Degrees Contact: Jason Brown, 415-674-1420
The Gold Standard Foundation Contact: Caitlin Sparks, 510-908-1210
APX Contact: Reiner Musier, 617-699-0929
News Corporation Contact: Jack Horner, 212-852-7952

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