16 October 2002 – Mitsui & Co., Ltd announced today that it will enter the greenhouse gas emission trading business in Japan in alliance with CO2e.com, LLC (CO2e), a Cantor Fitzgerald company.
As part of the alliance, Mitsui & Co., together with its subsidiary Mitsui & Co. (U.S.A.),Inc. New York, N.Y., will invest $1.2m in exchange for a minority stake in CO2e. Mitsui & Co. will also have board representation.
Mitsui & Co. and CO2e have a team of brokers in place to begin brokering greenhouse gas emissions and providing related services to clients in Japan. Through the alliance with CO2e, Mitsui & Co. will provide solutions to help its existing customers to understand, mitigate and manage the risks and opportunities of climate change.
The two companies also plan to explore a possible future launch of a joint venture that will serve the wider Asian region.
CO2e has an international team of transaction specialists and marketplace technology experts in London, New York, Toronto and Tokyo. The business provides brokerage services related to greenhouse gases, renewable energy and other environmental products. Through links with Cantor Fitzgerald Environmental Brokerage Services (EBS), the dominant emissions broker in the United States for over ten years, CO2e has a unique advantage in developing
the emerging American greenhouse gas emissions market.
CO2e also implements trading technology and risk management software together with eSpeed, Inc.,a subsidiary of Cantor Fitzgerald and the leading developer of electronic marketplaces.