BNY Mellon’s services also include carbon offset escrow services, voluntary carbon unit custody services, and custody and trade settlement services through its Global Environmental Markets unit. BNY Mellon, unlike many of its finance industry peers, does not participate in lending or project finance, so it is exposed to fewer environmental, social, and governance risks. Since 2010, BNY Mellon has supported the Banking Environment Initiative, which seeks to identify new ways to stimulate the direction of capital toward low carbon, more sustainable growth. As a service company, BNY Mellon’s corporate offices are responsible for the majority of its direct environmental impacts. In an effort to minimize its energy use and carbon footprint, BNY Mellon pursues Leadership in Energy and Environmental Design (LEED) certification and Energy Star awards on its buildings and offices. The company also invests in on-site renewable energy projects to generate electricity for its facilities, as well as purchasing renewable energy credits. BNY Mellon reports that it operates a culture of continuous improvement, but it does not set short- or long-term energy reduction goals. Portfolio 21 will monitor the company’s key performance indicators and capital investments to ensure continued progress towards minimizing the company’s environmental impact.
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 8/31/14 and may not reflect current opinions or subsequent events.