Historic Summit Hosted Leaders from U.S. states, China, India, Brazil, Mexico, Indonesia, the EU and other key regions of the world to address practical solutions to climate change
BEVERLY HILLS, Calif., Dec. 2 /PRNewswire/ -- Terry Tamminen and Bonnie Reiss, Operating Advisors at Pegasus Capital Advisors, played crucial roles as architects of the Governors' Global Climate Summit held on November 18 and 19th in Beverly Hills, CA. The historic summit successfully brought together over 700 leaders from several U.S. states, China, India, Brazil, Mexico, Indonesia, the EU and other key regions of the world to reach specific agreements on climate solutions creating a potential blueprint for the next global agreement on climate change.
Tamminen, former Secretary of the California EPA, and Reiss, former senior advisor to Governor Schwarzenegger, played key roles in designing and executing the Governors' Global Climate Summit, and were accompanied by over a dozen colleagues from Pegasus who held a series of high-level meetings with CEOs of green tech companies, major retailers and with representatives from various national and international environmental agencies and foundations, including a delegation from China.
At the Summit's "Cleantech Showcase," Pegasus portfolio companies iGPS (www.igps.net) and Lighting Science Group (www.lsgc.com) featured their advanced products and applications designed for a low-carbon economy. Governor Arnold Schwarzenegger and dozens of world leaders visited the displays and are exploring ways to use these innovative products in their states, provinces, and nations.
"We at Pegasus are proud to have played a key role in the success of this important gathering," said Craig Cogut, senior founding partner and managing director of Pegasus. "Two of our portfolio companies, iGPS, which offers the world's first all-plastic plastic pallet pool with embedded RFID tags, and Lighting Science Group, a leader in design and development of LED lighting, are excellent examples of the types of profitable and sustainable businesses we believe will be leaders in the new low-carbon economy."
Key highlights of the summit were the signing of cooperative agreements between the participating world leaders to start implementing climate change reduction solutions immediately. This included a Memorandum of Understanding to Reduce Emissions from Deforestation between California, Illinois and Wisconsin and states from Indonesia and Brazil. In addition, delegates signed the Summit Declaration, a commitment to establishing and expanding global networks aimed at improving sustainability initiatives. Twenty seven global leaders from six countries signed the Declaration acknowledging the threats of global warming on natural resources and economic prosperity, and calling on states and provinces to build and strengthen cooperative efforts to implement strategies that can immediately reduce greenhouse gas emissions in advance of the next global agreement on climate change.
President-Elect Barack Obama also used the summit to make his first statement on climate change - proclaiming that he would establish annual targets to reduce emissions to their 1990 levels by 2020 and reduce them an additional 80 percent by 2050. President-Elect Obama's statement is available to be viewed at: http://www.youtube.com/watch?v=hvG2XptIEJk
Videotaped proceedings of the entire Summit are available for viewing at: www.governorsglobalclimatesummit.org
About Pegasus Capital Advisors
Pegasus Capital Advisors, L.P. is a private equity fund manager that provides capital to middle market companies across a wide variety of industries. It is currently pursuing initiatives in several key emerging sectors, including alternative energy, all-natural human and pet foods, alternative building materials, LED lighting, homeland security and sustainable business solutions in a number of industries. Established in 1995, Pegasus manages over $1.8 billion in assets through several private equity funds and has made more than 70 investments. The firm employs over 50 uniquely talented investment and advisory professionals located in Cos Cob, CT, New York, NY, as well as several satellite offices. www.pcalp.com
SOURCE Pegasus Capital Advisors, L.P.