The Miami firm MGM International is developing a strong international market in carbon trading, reports the Miami Herald. Founded in 2001 by an environmental lawyer, Marco Monroy, MGM is gaining attention - in 2006, Morgan Stanley purchased 38 percent of the company for an undisclosed sum.Morgan Stanley views this business as a “very big growth area,” says Nancy King, an MS managing director, head of U.S. emissions trading. Last year, the global market in carbon trading was $30 billion. That number is expected to rise with more and more exchanges wanting in on the action. MS bought into MGM because they viewed it as a “high-integrity shop” with “technical experts around the world that we can’t replicate.” Last summer, Morgan Stanley announced a partnership to form a “carbon bank” and advise companies that want to go carbon neutral.
Currently, MGM has 100 employees working out of ten offices, including Buenos Aires, New Delhi and Beijing. This month, they plan to add offices in Italy, Norway and the UAE.
Retailers, Developers and Eco-Business Leaders...learn about green retail trends, consumer buying habits and sustainable business practices. Register NOW to Attend!
The 2008 Green Leaders Survey collects sustainability program insights from business and civic leaders. Learn from peers what works and what doesn't. Take survey>>
Recycling rates in the U.S. are low and getting lower. The U.S., by far the world's biggest consumer of aluminum ... continue »
Nearly three-quarters (73 percent) of financial institution executives say they plan to build new or undergo a major remodel of an existing ...
click to view full size chart »
This promotional video features restaurateurs discussing sustainable solutions and Conserve, the environmental initiative of the National Restaurant Association....
Join the Discussion