Banks to evaluate CO2 emissions on loans
Wall Street banks have come up with a set of principles to guide them in evaluating carbon risks in an environment of evolving climate policy.
Three Wall Street banks have announced they will set standards to factor in the risks posed to the environment from carbon emissions when lending to power companies that want to build coal-fired power plants.
Citi, JPMorgan Chase and Morgan Stanley have formed the Carbon Principles which are a set of climate change guidelines aimed at advisers and lenders to power companies in the US.
ôThe need for these principles is driven by the risks faced by the power...
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