Law360, New York (June 26, 2013, 1:06 PM EDT) -- It is common for lenders to evaluate environmental risks in their portfolios, in particular, collateralized contaminated properties, which could result in nonrepayment of principle or actual liability to the bank itself. A recent trend, however, has banks scrutinizing their portfolios to assess whether the businesses they are funding are negatively impacting climate change.
Wells Fargo, Credit Suisse, Morgan Stanley, JPMorgan Chase, Bank of America and Citibank have all noted increased scrutiny of prospective loans to companies engaged in mountain-top removal, and some have decided to opt out of funding that type of business entirely. Similarly, some lenders have initiated policies to...
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