NEW YORK, Oct. 20 /PRNewswire-FirstCall/ -- BNY Mellon, the global leader in asset management and securities servicing, announced today that it has received a 2010 Green Power Leadership Award from the U.S. Environmental Protection Agency (EPA). The annual awards recognize the country's leading green power purchasers for their commitment and contribution to helping advance the development of the nation's voluntary green power market. EPA presented BNY Mellon with the award at an event held in conjunction with the 2010 Renewable Energy Markets Conference in Portland, Ore. on October 20, 2010.
BNY Mellon was one of only 10 organizations nationwide to receive a Leadership Award in the Green Power Purchase category. The award recognizes EPA Green Power Partners who distinguish themselves through purchases of green power from a utility green-pricing program, a competitive green marketer or a renewable energy certificate (REC) supplier.
BNY Mellon purchases nearly 230 million kilowatt-hours (kWh) of green power annually, which is enough green power to meet more than 75 percent of the organization's purchased electricity use in the United States. BNY Mellon is buying a utility green power product and RECs from NextEra Energy Resources and Pepco Energy Services for renewable energy projects in the United States that use wind and solar power to generate electricity without producing carbon dioxide or other harmful pollutants. Through the NextEra partnership, which represents a majority of BNY Mellon's green investment to date, 100% of the revenue is directed to The EarthEra Renewable Energy Trust to build new facilities, accelerating the construction of renewable energy projects.
"EPA congratulates our leadership award winners for demonstrating by example the importance of using clean, renewable energy," said Gina McCarthy, Assistant Administrator for Air and Radiation at EPA. "By using green power, BNY Mellon is leading the way toward cleaner air and a healthier environment while helping advance the market for renewable energy."
"This prestigious award highlights BNY Mellon's high standards for energy use and even higher regard for the environment. We believe supporting clean sources of electricity makes strong business sense and this award from the EPA reinforces our commitment to continuing to grow our business in an environmentally sustainable way," said Chip Logan, managing director, BNY Mellon facilities services and sustainability.
BNY Mellon currently ranks No.17 on EPA's National Top 50 list. Each list highlights EPA Green Power Partners that have completed the largest annual voluntary purchases through July 6, 2010. EPA updates its Top Partner Lists quarterly at http://www.epa.gov/greenpower/toplists/.
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.
According to the EPA, BNY Mellon's current green power purchase of nearly 230 million kWh is equivalent to avoiding the carbon dioxide (CO2) emissions of nearly 32,000 passenger vehicles per year, or is the equivalent amount of electricity needed to power more than 20,000 average American homes annually.
BNY Mellon's commitment to environmental sustainability extends corporate-wide and since 2007, the global financial services firm has launched a series of successful sustainability initiatives with a driving focus on its owned and controlled properties, as well as new, innovative environmental products and services for the markets. The company operates a portfolio of ENERGY STAR® certified properties, including one of the first data centers to receive the label.
About BNY Mellon: BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon 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 $24.4 trillion in assets under custody and administration and $1.14 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available at www.bnymellon.com or www.bnymellon.com/csr.
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 nearly 1,300 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.
About the Green Power Leadership Awards: The U.S. Environmental Protection Agency (EPA) co-sponsors the annual Green Power Leadership Awards in conjunction with the U.S. Department of Energy and the Center for Resource Solutions. EPA recognizes winners in the following awards categories; Green Power Partner of the Year; On-site Generation; Green Power Purchase, and Green Power Community of the Year. EPA's Purchaser awards recognize the exceptional achievement among EPA Green Power Partners who distinguish themselves through green power procurement, market leadership, overall green power strategy, and overall impact on the green power market. The Awards are held in conjunction with the Renewable Energy Markets Conference. For additional information please visit http://www.epa.gov/greenpower/awards/.
SOURCE BNY Mellon