The CarbonNeutral Company acquires GreenLife in the US

TCNC, already a leading carbon offset and carbon management company servicing companies worldwide, said the deal would help expand its global presence, increase its capital and strengthen its management team in a market estimated to be worth more than £40 billion.

Under the deal, GreenLife, a privately-owned New York-based provider of carbon management services, will operate under the CarbonNeutral brand, but the company’s management team will be retained within the expanded business.  

“Together with GreenLife, we have one of the strongest brands and management teams in the carbon space,” commented Stephen Killeen, executive chairman of TCNC on announcing the acquisition.

Neil Braun, former chairman and ceo of GreenLife and now ceo of TCNC, said: “The CarbonNeutral Company combines unparalleled experience and reputation with the resources to enable its business clients to achieve exactly that.”

TCNC will now have two regional operating headquarters in New York and London, as well as offices in San Francisco and Washington, D.C.

It said it aimed to continue its global expansion with plans to open an office in Asia shortly. The company already has network affiliates in Japan, Canada and the UAE.

Established over 10 years ago, TCNC pioneered carbon offsetting and has since worked with more than 300 clients on nearly 200 carbon offset programmes. Clients it has worked with include BSkyB, Barclays, Expedia and Avis.

It is behind the world’s first proprietary protocol for measuring, reducing and communicating carbon management programmes, which underpins a process which only awards clients certification once emissions are reduced to net zero, using third-party assessment, robust offsetting and transparent green claims.

The GreenLife Organization was established in 2007 to provide comprehensive, global solutions for businesses, institutions and individuals to reduce their carbon footprints and help mitigate climate change. It was set up by Braun, a former NBC Network president.

TCNC’s acquisition of GreenLife follows a report published by UK Trade and Investment that shows the global environmental goods and services sector is expected to grow by more than 30 per cent to £436 billion by 2010, with the US market offering the most significant opportunities for UK environmental business with an estimated value of £152 billion in 2005.