Through our technical capabilities to reduce CO₂, green-house gases and other harmful emissions, we are extremely well positioned to benefit from the generation of emission rights and carbon credits. Our subsidiary Allied Carbon Credit GmbH based in Frankfurt, Germany, is an active participant in this evolving market by trading emission certificates, offering services to third parties for the identification, implementation of Clean Development- and Joint Implementation Projects as well as the management of the Emission Trading and provides in-house expertise to fully benefit from these new opportunities in our other business units.