Morgan Stanley’s Carbon Bank To Provide Offset Services
Under the new service, clients will compile their emissions inventory and calculate their carbon footprint by applying the monitoring standards of the Greenhouse Gas Protocol Initiative. DNV will then verify these emissions inventories and calculated carbon footprints. Carbon quantification, monitoring and verification will be conducted consistent with ISO 14064 standards.
Morgan Stanley’s Commodities Group will procure and cancel carbon credits equivalent to a client’s verified carbon footprint. Clients will be able to select their preferred sources of carbon credits, although all carbon credits will be generated according to the standards of the Kyoto Protocol.
Carbon credits will be procured from various sources including from Morgan Stanley’s own direct investments in emission reductions as well as those of MGM International. Morgan Stanley acquired a 38 percent stake in MGM last year.
Morgan Stanley said last year it would invest $3 billion in environmental markets, including the trade in permits to emit greenhouse gases, called carbon credits.
“It’s important the voluntary market expands on a responsible basis to provide confidence these markets work,” said Morgan Stanley’s Olivia Hartridge.
Energy Manager News
- Behind the Meter Podcast: A New Metric for Data Center Cooling
- Schneider Electric’s NEO Network: Helping Make Efficiency Projects Real
- Efficiency Project Complete in Meriden, CT
- BuildingIQ Makes 2 Moves
- Constellation Acquiring Retail Electricity, Natural Gas Businesses from ConEdison Solutions
- Peninsula Clean Energy Authority Chooses Direct Energy as Supplier
- Energy Efficiency is Growing on Farms
- DC Pushes Renewables