Tuesday, January 15, 2008

MGM Int'l. cleans up in carbon trading

From the Miami Herald:

Miami-based MGM International is generating a lot of interest from investors as it develops an international market for trading carbon credits.

While American politicians continue to dither about what should be done to stop global warming, a Miami firm is already developing an international market to reduce greenhouse gases through carbon credits.

MGM International, with headquarters on Brickell Key and offices around the world, has had such a promising start that Wall Street giant Morgan Stanley has purchased 38 percent of the company.

Morgan Stanley views this business as ''a very big growth area,'' says Nancy King, an MS managing director, head of U.S. emissions trading. The global market in carbon trading was $30 billion last year -- and is growing rapidly, even without U.S. participation.

MGM is a prime example of how the business of green is sprouting everywhere -- developers creating energy-efficient houses, manufacturers making energy-efficient appliances.

''There is a huge business opportunity here,'' says Marco G. Monroy, 38, the chief executive and founder of MGM International....MORE