Three Wall Street banks said on Monday
they will set environmental standards that factor in risks posed by
carbon-emissions when lending to power companies that seek to build
coal-fired power plants.
Citigroup Inc, JP Morgan Chase & Co
and Morgan Stanley will form "The Carbon Principles," climate change
guidelines for advisors and lenders to power companies in the United
States.
The banks developed the principles in consultation with
environmental organizations and power companies, including American
Electric Power Co, the nation's largest consumer of coal, and Southern
Co, the largest utility company in the coal-heavy Southeast.
Financing
of projects with high carbon dioxide-emitting technologies will be
evaluated using a new framework that factors in the potential carbon
risks, they said.
Wednesday, August 13, 2014
Conscientious Investments: The Carbon Principles
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment