News Releases
The Nets and Barclays to host first CarbonNeutral® Game in the NBA
THE NETS AND BARCLAYS TO HOST FIRST
CARBONNEUTRAL® GAME IN THE NBA
Green Night to be Held on Tuesday, April 1 at
--Nets only major pro sports team to earn industry’s most rigorous
CarbonNeutral® Accreditation--
EAST RUTHERFORD, NJ (March 28, 2008) – The Nets and Barclays PLC will host the first NBA game in history to be CarbonNeutral® when the Nets face the Philadelphia 76ers at the IZOD CENTER on Tuesday, April 1. All of the fan automobile travel, staff travel,
The Nets are eliminating their carbon footprint for the game through offsetting by purchasing guaranteed and verified carbon credits. Barclays will be the underwriter for the offsetting program as part of its ongoing commitment to energy efficiency and reducing carbon dioxide emissions.
As part of the Nets CarbonNeutral® -themed Green Night, presented by Barclays, the Nets and Barclays will celebrate their carbon neutral initiatives while educating fans on what it means to be carbon neutral and what fans can do in their daily lives in regards to their personal commitment to the environment.
Several environmental groups will be on the concourse to provide information and the team will make several in-game announcements regarding tips to be more environmentally friendly.
The Nets announced this month that, with their ongoing commitment to “greening” the franchise through a company-wide environmental strategy, the organization had become the first NBA team to be accredited as CarbonNeutral®, in which the Nets have reduced their carbon footprint to zero through offsetting by purchasing guaranteed and verified carbon credits that support renewable energy projects around the world. In addition, the Nets have made internal reductions, such as improving energy efficiency, recycling rates, water efficiency, indoor environmental quality, and establishing green procurement policies for the materials the Nets use on a regular basis.
In January, the Nets launched ‘Netsgogreen.com’ as an educational resource for Nets fans to learn about energy conservation, global warming, sustainability, recycling, air quality, forestation, renewable energy, greener cleaning products, policy and legislation, key green terms and water conservation.
The Nets have chosen to support the following projects for their carbon offset program:
Kotmar Waste Heat Recovery in
This project captures waste heat at a steel plant and uses it to produce electricity which is subsequently fed into the local grid. The project has generated emission reductions of 74,263 t CO2 equivalent between 2004 and 2007, verified and certified to the Voluntary Carbon Standard.
This project bundles four small run-of-river hydro power stations in
Rhine-Ruhr Waste Gas Power in Germany
This project captures methane from three abandoned coal mines in
Solar Water Heating Systems,
This project promotes the installation of solar water heating systems in the Indian state of Karnataka. SELCO, the organisation behind the project, is a two-time winner at the Ashden Awards for Sustainable Energy. The systems will generate emission reductions of an estimated 78,000 t CO2 equivalent between 2007 and 2013.
Barclays PLC
Barclays PLC is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services. It is one of the largest financial services companies in the world by market capitalization. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 135,000 people. Barclays moves, lends, invests and protects money for over 27 million customers and clients worldwide. For further information about Barclays, please visit our website www.barclays.com.
Barclays is aware that, as a global financial services organisation, it has a significant impact on the environment. The firm takes this issue seriously and its strategy for reducing this impact is integral to the way it conducts business. Barclays aims to:
- Reduce its impact on the environment
- Implement an environmental management system in key operations worldwide
- Manage the environmental risk associated with Barclays activities
- Be one of the leaders in environmental responsibility
Barclays Capital, the investment banking division of Barclays PLC, has quickly established itself as a leading intermediary in the environmental markets by applying banking experience in the following areas:
- Market access and intermediaries: the provision of a “route to market” for participants looking to buy and sell allowances and project credits
- Risk management and structuring: the development of trading strategies and risk management products enabling market participants to manage the volume and price risks associated with their emissions portfolios
- Financing and investment: the provision of debt and equity finance for emission reduction projects and the provision against emission allowance holdings
- Investor Solutions: Barclays Capital launched some of the first investment vehicles to meet the needs of investor’s growing appetite for exposure to GHG prices.
The CarbonNeutral Company
The CarbonNeutral Company is the world’s leading carbon offset and climate consulting business, working with over 300 businesses and 50,000+ consumer clients.
CarbonNeutral® is the registered trademark of The CarbonNeutral Company (TCNC) and is the leading brand mark and quality standard for action on climate change. Permission to display the CarbonNeutral mark is only given to clients of TCNC when CO2 emissions have been measured and reduced to net zero through a program implemented in accordance with The CarbonNeutral Protocol. This Protocol assures quality of offset projects, carbon footprint assessments and communication and is regularly reviewed by an Independent Advisory Group. The ‘audit trail’ includes an annual independent verification of CarbonNeutral programs – from contracts with carbon offset partners through to contracts with clients and everything in between.
The CarbonNeutral® accreditation awarded to the Nets signifies that the emissions associated with the Nets commuting, business travel, premises and company vehicles have been calculated in accordance with the WRI/WBCSD GHG protocol and an equal number of carbon credits have been purchased on behalf of the Nets to neutralize these emissions.
Media Relations Contacts:
Barry Baum
Nets Basketball
917-847-1737
bbaum@njnets.com
Peter Truell
Barclays Capital
212-412-7579
peter.truell@barcap.com
Jason Schlossberg
Kwittken & Company for
The CarbonNeutral Company
646-747-7144
