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
- Energy Storage: It’s About the Software
- MIT Develops Promising New Battery Storage Technology
- India Launches Net-Zero Building Portal
- Companies Cooperating on Waste-to-Energy Projects
- Clean Energy Commitment in the Corporate and Local Small Business Sphere
- Xcel Asks for $90M ‘Switching Fee’ If Lubbock Utility Joins ERCOT
- EDF Sending 127 Climate Corps Fellows to 100 Organizations
- Capegemini, Siemens Working on Analytics Platform