Bankers, Green Groups Draft "Carbon Principles"

Law360, New York (February 4, 2008, 12:00 AM EST) -- Recognizing the likelihood that the U.S. will pass climate change legislation that caps carbon dioxide emissions, three major Wall Street investment banks released guidelines Monday aimed at addressing climate change risks for advisers and lenders to power companies.

Citigroup Inc., J.P. Morgan Chase & Co., and Morgan Stanley teamed up with power companies and environmental NGOs to formulate “Carbon Principles” to institute a framework for thinking about carbon risk when evaluating coal-fired power plants, which emit disconcerting quantities of carbon dioxide. The process of discussion and...
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