Morgan Stanley was recognized for its efforts to reduce carbon emissions generated in the U.K. offices when it received Carbon Trust Standard accreditation in December 2010. The Carbon Trust Standard certifies organizations that have measured, managed and reduced their carbon footprint as well as committed to making further reductions in the future.

The Firm has reduced emissions from its U.K. buildings by 26 percent over the past three years. This reduction helped Morgan Stanley achieve its 2012 global target of 7 percent reduction. The new target is now set at 10 percent reduction over a five-year period from 2009 to 2013.

Morgan Stanley achieved these reductions by implementing the following measures:

·                     Ongoing energy management in all buildings based on a strategy of audit, analysis, recommendation, action monitoring and review

·                     Continuous awareness of building plant equipment including air-conditioning systems to optimize running times

·                     Out-of-hours (off-peak) energy surveys to identify where savings can be made

·                     Energy training to enhance the skills of on-site engineers and share best practices

·                     Installation of energy-efficient lighting and motion sensor control on most floors and in stairwells

·                     Establishment of annual reduction targets of 5 percent year-on-year for offices

The Carbon Trust Standard was introduced in 2008 to promote good practices in both public and private organizations with regard to carbon measurement, management and reduction.

To achieve Carbon Trust Standard accreditation, organizations must present clear documentation for monitoring and targeting carbon emissions as well as demonstrate the origin of the information in an interview. The criteria are as follows:

·                     Measure carbon footprint from electricity and gas consumption, any on-fuel consumption (e.g., diesel) as well as fuel consumption of company-owned vehicles

·                     Reduce overall emissions or achieve a 2.5 percent annual reduction in carbon emission generation when measured against a benchmark

·                     Provide evidence that carbon is being managed through effective governance procedures, accurate carbon accounting and carbon management programs

·                     Demonstrate an ongoing commitment during reassessments because the certification is not static