Chicago, October 29, 2008 – Baker & McKenzie LLP acted for Blue Source, North America’s largest climate change portfolio, on a strategic alliance, marketing and trading relationship with Goldman Sachs. As part of the strategic alliance, Goldman Sachs has purchased an equity stake in Blue Source LLC.

The alliance combines environmental market experience and skills that can provide real climate change solutions for a broad array of U.S. companies. Goldman Sachs will off-take, structure and market a broad range of verified emissions reductions (VERs) resulting from certain greenhouse gas (GHG) reduction projects in Blue Source’s portfolio, including those associated with methane management from coal mining, wastewater treatment, landfills and animal waste; energy efficiency; carbon capture and sequestration from fertilizer and natural gas production; and industrial gas destruction.

The transaction drew upon Baker & McKenzie’s strong capabilities in climate change and the carbon markets, derivatives trading, joint ventures, commercial transactions, tax and private equity.

Richard Saines, lead Partner on the transaction, said: “We are pleased to have worked with Blue Source on this innovative and groundbreaking deal. It was the perfect opportunity to harness our strong expertise in a variety of practices in order to complete this complex transaction.”

Other Baker & McKenzie team members include: Marc Horwitz, banking & finance and major projects Partner; corporate & securities Partners Charles Hallab and Steve Griesemer (Chicago); tax Partners William R. Wagner (New York), Richard Lipton and Michael Donovan; and assisted by Sarah Clanton (Chicago) and Hoon Lee (New York).

Blue Source has the leading portfolio of greenhouse gas emission reductions.  It is the top developer of carbon capture and storage systems (CCS), and the first and largest source of project investment capital dedicated to CCS and methane management. The company recently announced a strategic investment partnership with affiliate investment funds of Och-Ziff Capital Management Group LLC (NYSE: OZM) in which Och-Ziff investment funds have committed up to $500 million fund the development of carbon infrastructure projects.