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Merrill Lynch Partners with CDP to Boost Carbon Accounting, Disclosure

| Wednesday March 19th, 2008 | 1 Comment

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When it comes to business, finance and economics you know that something has arrived when the big investment banks and brokerages get behind it. That’s been the case with carbon emissions credit trading for a couple or so years now, and now it’s happening in the case of carbon dioxide and greenhouse gas emissions accounting and auditing.
The Carbon Disclosure Project and Merrill Lynch & Co. on March 17 announced a global, three-year partnership that aims to further develop and expand the CDP organization and its efforts to develop international standards for corporate carbon dioxide and greenhouse gas emissions accounting, disclosure and auditing.
A collaboration on the part of 385 institutional investors with some US$57 trillion of assets under management, CDP is the world’s largest investor collaboration on climate change. Each year it sends out climate change and carbon emissions surveys and disclosure requests to over 3,000 companies globally on behalf of investors.


Global Partnership
In addition to assisting the CDP to better organize and consolidate its operations in places where it is already well established, such as the U.S. and U.K., Merrill Lynch’s expertise and global network should also help CDP to launch operations in new key regions, such as China and Korea, according to a media release.
By partnering with prominent multinational financial organizations such as Merrill Lynch, CDP aims to help channel investment funds into projects, accounting and reporting systems that will reduce emissions and help mitigate climate change.
Merrill Lynch’s expertise in capital markets, carbon trading, investment banking and advisory services in particular will add momentum to CDP’s drive to expand the number of companies contributing standardized climate change data and reports and raise awareness of the importance of corporate climate change accounting and reporting, according to CDP.
“This global partnership will help CDP to build on its current success in creating a unified business response to climate change. As regulations on greenhouse gas emissions tighten, CDP data will become increasingly useful to help guide investment models. We hope other leading global institutions will follow Merrill Lynch’s lead in working with CDP as part of a
Consortium of Global Partners,” CDP CEO Paul Dickinson stated.
“CDP has been instrumental in creating a constructive dialogue between companies and the financial markets on new opportunities and risks posed by climate change,” added Abyd Karmali, Merrill Lynch’s managing director and global head of carbon emissions. “Importantly, it has also promoted continuous improvement in corporate reporting on carbon emissions which has been valuable to Merrill Lynch in developing new carbon-related investment products. For example, CDP data were instrumental for Merrill Lynch in launching our Capital Protected Carbon Leaders Europe Index Certificate in 2007.”
Merrill Lynch’s expertise in capital markets, carbon trading, investment banking and advisory services in particular will add momentum to CDP’s drive to expand the number of companies contributing standardized climate change data and reports and raise awareness of the importance of corporate climate change accounting and reporting, according to CDP.
“This global partnership will help CDP to build on its current success in creating a unified business response to climate change. As regulations on greenhouse gas emissions tighten, CDP data will become increasingly useful to help guide investment models. We hope other leading global institutions will follow Merrill Lynch’s lead in working with CDP as part of a
Consortium of Global Partners,” CDP CEO Paul Dickinson stated.
“CDP has been instrumental in creating a constructive dialogue between companies and the financial markets on new opportunities and risks posed by climate change,” added Abyd Karmali, Merrill Lynch’s managing director and global head of carbon emissions. “Importantly, it has also promoted continuous improvement in corporate reporting on carbon emissions which has been valuable to Merrill Lynch in developing new carbon-related investment products. For example, CDP data were instrumental for Merrill Lynch in launching our Capital Protected Carbon Leaders Europe Index Certificate in 2007.”


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