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NYSE Goes Carbon Neutral Through Wind RECs

nyseThe New York Stock Exchange is purchasing renewable energy credits to offset the approximately 28 million kilowatt hours it uses annually, reports the Baltimore Sun.

The NYSE is buying RECs to support the installation of wind energy. Constellation NewEnergy is providing the certified offsets.

As a result, the NYSE estimates it will avoid about 57 million pounds of CO2 emissions a year.

The NYSE worked with energy consulting firm Co-eXprise to set up the deal, according to a press release.

“The New York Stock Exchange is at the very heart of global financial markets, and this agreement enables us to power a critical part of our operations in a way that is environmentally sustainable,” said Jeffrey Pellet, senior vice president and Global Head of Facilities and Corporate Services, NYSE Euronext.

Other stock exchanges are tying themselves to the environment in different ways, namely by offering indexes related to sustainability and carbon cutting.

The NASDAQ OMX CRD Global Sustainability 50 Index tracks companies on the “leading edge of self-reporting sustainability activities.”

Also last year, the Standard & Poor’s launched the S&P U.S. Carbon Efficient Index, which measures the performance of large cap U.S. companies with relatively low carbon emissions, while closely tracking the return of the S&P 500

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2 thoughts on “NYSE Goes Carbon Neutral Through Wind RECs

  1. The CarbonNeutral Company applauds the initiative of The New York Stock Exchange (NYSE) to become carbon neutral. While we support the NYSE’s efforts in this regard, we would like point out that Renewable Energy Credits (RECs) are not the same as carbon credits and therefore should not be used to neutralize or offset one’s greenhouse gas emissions. As made clear in the Offset Quality Initiative’s paper, “Maintaining Carbon Integrity: Why Renewable Energy Certificates Are Not Offsets”, RECs often lack additionality and clear ownership, making them inadequate for offsetting. The CarbonNeutral Company is a strong supporter of renewable energy, and believes that is has a critical role to play in addressing climate change, however, we do not advocate the use of RECs for carbon offsetting purposes – that is what carbon credits are for.

  2. Congratulations NYSE. You are leading an environmental initiative. Every business and individual should take your lead.

    There is still the opportunity to go one step further and consider the http://www.climakind.com alternative for your future carbon credits – proactive, high quality and secure carbon emission credits.

    They offer the purest form of emissions reduction and have many advantages over RECs and Trees carbon offsets. The facts are uncovered in the article What are the alternatives to carbon offset / carbon neutralise emissions?”

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