Morgan Stanley demonstrates an ongoing commitment to managing energy responsibly with two recent initiatives: the installation of a new fuel cell system and the completion of a six-acre solar panel field at Morgan Stanley’s Westchester campus.
Morgan Stanley is an industry leader in environmental sustainability and demonstrates an ongoing commitment to social responsibility through its work with clients, partners and the communities in which employees live and work.
“Environmental sustainability begins at home, and Morgan Stanley is committed to improving the energy efficiency and resiliency of all of our facilities,” said Chief Operating Officer Jim Rosenthal.
Morgan Stanley’s Westchester campus in Purchase, N.Y., is home to two recent initiatives that seek to responsibly manage energy use and reduce the firm’s carbon footprint: the installation of a new fuel cell system manufactured by Bloom Energy that provides clean and uninterruptible power for the 750,000 square foot office building; and the completion of a six-acre solar panel field whose more than 3,000 panels convert electricity while offsetting 400 tons of carbon emission annually. The two installations combined are expected to produce approximately three million kilowatt hours (kWh) of energy a year.
The fuel cell system technology produces electricity without burning fossil fuels, thus reducing emission of greenhouse gases and resulting in on-site, clean and reliable power. It will supply approximately 250 kW of constant base load power to the Westchester facility, as well as grid-independent electricity to power portions of the building’s critical load during grid outages.
The solar panel facility—built adjacent to the Westchester campus—offsets carbon emissions for the building and reduces electrical use from the New York state grid, while making an impact on the firm’s expenses. The installation of the field was a cross-divisional collaboration between Morgan Stanley’s Corporate Services Department and its Commodities Solar Desk, known as MS Solar, a leading developer and financier of solar photovoltaic projects in North America.
“The financial and environmental benefit of projects that reduce or offset our energy consumption ensures our ongoing commitment to investing in technologies and strategies that minimize our impact on the environment,” said James Cullen, Vice President of Engineering Operations for the Americas.
Morgan Stanley’s worldwide offices have lowered carbon emissions per square foot by 30% from 2006 through 2013, exceeding previous targets. Sustainable progress is also reflected in the firm’s data centers, where the power usage effectiveness in 2013 improved by more than 5%, compared with the previous year.
Morgan Stanley’s advancement in sustainability has been recognized in well-known indices. These include: the Carbon Disclosure Project Standard & Poor’s 500 Carbon Disclosure Leadership Index, which measures the transparency and quality of climate-related information disclosed by companies, and the Dow Jones Sustainability Indices review, which tracks the performance of leading sustainability-driven companies worldwide, based on an analysis of financially material economic, environmental and social factors. In addition, Morgan Stanley offices have received a total of 24 Leadership in Energy and Environmental Design (LEED) certifications globally—including one platinum, eight gold and seven silver —recognizing the firm’s sustainable design practices and the overall sustainability of its facilities.