soxfirst
Carbon principles
Filed in archive risk by leon on March 27, 2008
warming1.jpeg


Earlier this month, I did a blog entry looking at the massive impact that climate change will have on the financial services sector, particularly the banks.

Now, global law firm Winston & Strawn has put out a briefing paper on the carbon principles being championed by Citibank, JPMorgan Chase, and Morgan Stanley working in conjunction with various power companies. According to the principles, the aim is to encourage companies to invest in renewable energy and carbon technology. The principles are however a bit vague when it comes to dealing with certain industries, like power plants. Significantly, it seems to make no distinction between natural gas, coal or nuclear plants.

The principles don't preclude financing of projects producing greenhouse gas emissions. But they are likely to force these industries to look more carefully at what they do and find ways to address the issue.

And bank clients who won't provide the information required to conduct what the principles call the enhanced diligence process will be denied financing.

Permalink: Carbon principles
Tags: carbon  principles  Citibank  JP  Morgan  Chase  Morgan  Stanley  2007  carbon+principles 
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/118005
img Addthis img Ask img Blinklist img del.icio.us img Digg img Fark img Facebook img Google img Lycos img Ma.gnolia Add this page to Mister Wong Mr Wong img Netscape img Netvousz img Newsvine img Reddit img StumbleUpon img Slashdot img Tailrank img Technorati img Wink img Yahoo

Vote for Carbon principles:

  • Currently 10.00/10
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
Rating: 10.00 out of 1 vote(s) cast.
 
Subscribe
Share It
RSSrss
See all blog subscribe options
Google google
What is RSS?
Yahoo! yahoo
Addthis Subscribe using any feed reader!
Bloglines Bloglines
Newsletter

TwitterFollow us on Twitter!