The Bank of New York Mellon Ranked Among EPA's Top 20 Green Power Purchasers
Jul 27, 2009
Purchase Reduces Carbon Footprint, Vaults Company into Green Power Leadership Club
NEW YORK, July 27, 2009 — The Bank of New York Mellon (NYSE: BK) announced today that it appears on the U.S. Environmental Protection Agency's (EPA's) National Top 50 List of the largest green power purchasers and is a member of the EPA's Green Power Leadership Club.
The company has purchased more than 96 million kilowatt-hours (kWh) of green power, or enough green power to meet nearly one third of the organization's domestic purchased electricity use. The Bank of New York Mellon is buying green power from NextEra Energy Resources and Pepco Energy Services.
Additionally, The Bank of New York Mellon's voluntary investment in green power supports the EPA's Fortune 500 Green Power Challenge in which Fortune 500 Corporations will collectively exceed 10 billion kilowatt-hours of green power purchases by year-end 2009. The Bank of New York Mellon's green power purchase ranks No. 18 among all participating corporations and qualifies The Bank of New York Mellon for EPA's Green Power Leadership Club, a distinction given to organizations that have significantly exceeded EPA's minimum purchase requirements. The EPA's Green Power Leadership Club members must purchase ten times the partnership's minimum requirement organization-wide.
"By investing in green power, BNY Mellon further demonstrates its company-wide commitment to economic, environmental and human health and its comprehensive approach to sustainability," said Chip Logan, Director of Global Facilities and Sustainability, BNY Mellon.
According to the U.S. EPA, The Bank of New York Mellon's green power purchase of more than 96 million (kWh) is equivalent to avoiding the carbon dioxide (CO2) emissions of nearly 13,000 passenger vehicles per year, or is the equivalent amount of electricity needed to power nearly 10,000 average American homes annually.
"EPA commends our leading partners for their continued commitment to protecting the environment by using green power," said Kathleen Hogan, Director of the Climate Protection Partnerships Division at EPA. "By supporting green power, The Bank of New York Mellon is reducing its greenhouse gas emissions, supporting clean energy technologies, and contributing to a clean energy future."
Green power is electricity that is generated from environmentally preferable renewable resources, such as wind, solar, geothermal, biogas, biomass and low-impact hydro. These resources generate electricity with a net zero increase in carbon dioxide emissions, while offering a superior environmental profile compared to traditional power generation sources. Green power purchases also support the development of new renewable energy generation sources nationwide.
In addition to its green power purchase, BNY Mellon's comprehensive approach to environmental sustainability includes: applying rigorous operating and efficiency standards to its buildings with an eye toward Energy Star® and LEED certification; measuring and implementing strategies to reduce greenhouse gases; purchasing renewable energy credits; decreasing its paper use while increasing its use of post-consumer recycled products; developing products and services for the financial services marketplace that offer choices and support environmental sustainability; and engaging its employees so they too can become sustainability champions.
BNY Mellon's initiatives have the triple benefit of saving energy, saving money and helping the environment and according to the U.S. EPA, ENERGY STAR-certified commercial buildings use 35 percent less energy than average buildings and cost $0.54 less per square foot to operate when compared to an average building; when compared to a below-average building, they cost $2.10 less per square foot to operate.
To learn more, visit http://www.epa.gov/greenpower/toplists/.
About The Bank of New York Mellon
The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $20.7 trillion in assets under custody and administration, $926 billion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.8 trillion per day. Additional information is available at www.bnymellon.com.
About EPA's Green Power Partnership
The Green Power Partnership is a voluntary program that encourages organizations to buy green power as a way to reduce the environmental impacts associated with purchased electricity use. The Partnership currently has more than 1,100 Partner organizations voluntarily purchasing billions of kilowatt-hours of green power annually. Partners include a wide variety of leading organizations such as Fortune 500 companies, small and medium sized businesses, local, state, and federal governments, and colleges and universities. For additional information, please visit http://www.epa.gov/greenpower.