SG, Rhodia form carbon joint venture

Investment bank Société Générale (SG) and Rhodia Energy Services, a global specialty chemicals company, have formed a joint venture company to trade carbon.

The new company, called Orbeo, is equally owned between the two parties, and is the first company in the emissions sector to follow such a business model. The company will use SG's trading expertise to trade Certified Emissions Reductions (CERs) to be generated initially from two Rhodia projects. Rhodia will generate approximately 100 mil