Playa del Rey’s Planet Positive International LLC, which provides corporate environmental accreditation programs, has signed a letter of intent to merge with Green Globe International Inc.

Green Globe, based in the Riverside County city of San Jacinto, on Wednesday said that if due diligence is successful, Green Globe will acquire 100 percent of Planet Positive in a stock transaction, with Planet Positive becoming the surviving entity. Green Globe, a holding company with majority ownership of a United Kingdom company operating the Green Globe sustainability certification and benchmarking programs, will issue shares of preferred stock in exchange for the shares of Planet Positive.

Upon closure, Planet Positive will have the right to select a new slate of officers for the company and its subsidiaries. The company offers environmental certification for businesses, products, buildings, events and people, including carbon footprint assessments, and the ability to offset that footprint through the charitable programs of the Planet Positive Foundation.

“We could not have hoped for a better opportunity than our contemplated relationship to move the public company beyond its current focus and to fulfill its pursuit of additional revenue generating operations in the U.S. and internationally,” Green Globe Chief Executive Steven R. Peacock said in a statement. “Jon Gaster, group chairman of Planet Positive, and his team are uniquely qualified to lead the company after the acquisition transaction is completed.”