SAN FRANCISCO, CA. - February 12, 2009 - First Climate, a global leader in carbon asset management, is pleased to announce the further expansion of its US operations to include two new staff members based out of our San Francisco office. Irene Hsieh and James Heath join First Climate (FC US) to oversee carbon investment advisory services and carbon offset project origination respectively. Commenting on the new hires, Greg Chambers, Managing Director for the San Francisco office shared that "We are thrilled to have both Jim and Irene join our team and we look forward both to continuing to strategically build our US staff and to increasing our focus on infrastructure projects that reduce GHG emissions. The new Obama administration promises to take decisive and dramatic action to mitigate US GHG emissions and we plan to continue to provide tailored investment advisory solutions to meet the needs of both the voluntary and future compliance market."

As Vice President of Origination, Mr. Heath will lead efforts to further develop and grow domestic carbon offset projects for FC US Mr. Heath has considerable experience in both the origination and implementation of emissions reductions projects under the clean development mechanism (CDM), having registered over 30 projects with the CDM executive board. Most recently, Mr. Heath managed EcoSecurities' US origination and research and development teams. He has a B.S. in Bioenvironmental Sciences from Texas A&M University and a Masters degree in Environmental Change and Management from the University of Oxford. Commenting on his new position, Mr. Heath shared "I am excited to be joining such a talented carbon firm at a time when President Obama has promised a new direction for climate change policy in the US and I look forward to growing our business in this dynamic and newly invigorated market."

Ms. Hsieh will serve as Vice President of Carbon Investment Advisory services. She comes to First Climate from the Export-Import Bank of the US where she acted as senior asset management officer and managed a portfolio of infrastructure projects based in emerging market countries. Asked about her new role, Ms. Hsieh noted that "First Climate's global team of agile and forward-thinking players has been an effective force in shaping the development of international carbon markets. I am excited to be part of the team leading that effort in the US." Ms. Hsieh began her career as a financial analyst at Kidder, Peabody & Co. where she worked in financing projects in the US environmental services industry. She subsequently worked for NatWest Markets and GE Capital on financing infrastructure projects in developing countries. Ms. Hsieh has an undergraduate degree in Economics and Environmental Science from Barnard College and a graduate degree in International Economic Policy from Columbia University.

First Climate is a global leader in carbon asset management. With offices on five continents and more than ten years of experience in international carbon markets, we are one of the few intermediaries to cover the entire carbon credit value chain. First Climate develops, finances, and implements CDM, JI, and VER projects, purchases the resulting carbon credits, and customizes carbon management solutions for companies in the voluntary, pre-compliance and compliance markets. As investment advisor to several institutional investors outside the United States, First Climate has structured and developed European carbon funds and related products. Our portfolio consists of high quality emission reduction credits that are verified by international carbon market standards. This objective third-party quality assurance creates the transparency that safeguards our company's credibility as well as theintegrity of our clients' environmental engagement. First Climate is one of the main sponsors of the Gold Standard Version 2.

First Climate

First Climate

First Climate is a global leader in carbon asset management. As a pioneer in the international carbon market, we bring experience and expertise to the steadily growing US carbon markets. With offices on five continents and ten years of experience in international carbon markets, we are one of the few intermediaries to cover the entire carbon credit value chain. First Climate develops, finances, and implements VCS, Gold Standard, VER+, CDM, JI, and VER projects, and customizes carbon management solutions for companies and organizations in the voluntary, pre-compliance and compliance markets. As investment advisor to several institutional investors outside of the United States, First Climate has structured and developed European carbon funds and related products. Our portfolio consists of high quality emission reduction credits that are verified by international carbon market standards. This objective third-party quality assurance creates the transparency that safeguards our company's credibility as well as the integrity of our clients' environmental engagement. First Climate is a main sponsor of the Gold Standard Version 2.

More from First Climate