5.27.2008 - 11:00am ET

(CSRwire) NEW ORLEANS, LA - May 27, 2008 - Green Light New Orleans, a grassroots organization which aims to reduce greenhouse gas emissions by replacing the city's 3 million light bulbs with more efficient, low energy lights, has signed an agreement to work with carbon market specialists EcoSecurities to raise crucial funding for the project through the creation and sale of carbon offsets.

To date, Green Light New Orleans has replaced 60,000 incandescent bulbs with compact fluorescent lights (CFL) throughout the New Orleans community and replaces bulbs at a rate of 15,000 per month. Lighting accounts for 20-25% of electricity consumed in the U.S. and replacing just one incandescent bulb will keep 500 pounds of carbon dioxide out of the atmosphere over the life of the bulb. Replacing 3 million bulbs will reduce an amount of carbon equivalent to the emissions generated from more than 100,000 cars in a year.

The program is funded from private sources, including donations from businesses and individuals, and now from the carbon offsets generated by the project. Funding from carbon offsets could raise more than $3 million, depending on the number of bulbs replaced. Support from a partnership between Coca Cola and the New Orleans Saints resulted in a $50,000 donation in 2007 and more recently Entergy pledged $100,000 to support the project.

Project founder and musician, Andi Hoffmann moved to New Orleans from Switzerland 15 years ago and started Green Lights New Orleans after the devastation of Hurricane Katrina.

"After Katrina I knew I had to do something to reduce the impact my life as a touring musician was having on the environment," explained Hoffmann. "I founded Green Light New Orleans to reverse global warming by helping people to make the switch, one house at a time. Our strategy is to actually go to the homes of New Orleans residents and install the CFLs ourselves, so the bulbs are put to immediate use. The installation is done by volunteers from New Orleans and across the country and the program is free."

"By working with EcoSecurities we were able to harness the value of the carbon emissions we are avoiding through reduced energy consumption from the CFL bulbs. We hope to fund 25-30% of the project through offsets with the help of EcoSecurities, which will make a huge contribution to its success."

Low energy bulbs use on average 75% less energy. By replacing all the bulbs in a house, around 30 bulbs on average, over $1,350 can be saved over the lifetime of the new bulbs for some of the city's most impoverished inhabitants. This reduction in energy usage also means fewer greenhouse gas emissions are generated.

EcoSecurities, a leading company in the origination, development and commercialization of carbon offsets, advised Green Light New Orleans regarding the production of offsets from the project, and acts as principal purchaser of the offsets generated.

"We applaud Green Light New Orleans in their efforts to mitigate climate change at a grassroots, community level," said James Heath, Head of U.S. Origination for EcoSecurities. "Citizens of New Orleans have experienced firsthand the effects of climate change and it is important to incorporate forward-thinking, energy efficiency measures in the rebuilding efforts.

"In addition to saving money for some of the city's poorest residents, this project spreads awareness of climate change at the household level and reduces greenhouse gas emissions," he continued. "We are excited to be part of this partnership, and hope it will serve as a model for future projects."

EcoSecurities, which has its US headquarters in New York, has advised governments, international organizations and leading businesses on emission reductions and carbon offsetting. EcoSecurities develops emission reduction projects in the US and internationally, and has over 430 projects, as well as one of the largest and most diverse portfolios of carbon offsets, totaling more than 120 million offsets.

About Green Light New Orleans

Green Light New Orleans is an environmental organization addressing global warming and rising energy costs in the New Orleans Area. Musician Andi Hoffmann founded the organization in 2006 as a response to the devastation left by Hurricane Katrina. Green Light New Orleans’ goal is to switch the entire city from incandescent light bulbs to compact fluorescent light bulbs, one house at a time. Volunteers visit homes to install new bulbs to ensure the bulbs are put to immediate use. 60,000 bulbs have been changed to date.

For more information visit www.greenlightneworleans.org

About EcoSecurities

EcoSecurities is one of the world's leading companies in the business of sourcing, developing and trading carbon offsets. EcoSecurities structures and guides greenhouse gas emission reduction projects through the project cycle, working with both project developers and buyers of carbon offsets.

EcoSecurities has experience with projects in the areas of renewable energy, agriculture and urban waste management, industrial efficiency, and forestry. With a network of offices and representatives in over 25 countries on five continents, EcoSecurities has amassed one of the industry's largest and most diversified portfolios of carbon offsets projects.

Utilising its highly diversified portfolio, EcoSecurities is able to structure carbon offset transactions to fit any buyers' needs, and has executed transactions with both private and public sector buyers in Europe, North America and Japan.

Working at the forefront of carbon market development, EcoSecurities has been involved in the development of many of the global carbon market's most important milestones, including developing the world's first CDM project to be registered under the Kyoto Protocol. EcoSecurities Global Consulting Services has been at the forefront of all significant policy and scientific developments in this field. EcoSecurities has been voted 'Best Advisory Firm - Kyoto Project Credits' over the last seven years by reader surveys conducted by Environmental Finance magazine.

EcoSecurities Group plc is listed on the London Stock Exchange AIM (ticker ECO). Additional information is available at www.ecosecurities.com.

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