Wall Street banks add pollution costs to lending decision

02/6/2008 | FinanceAsia.com (Hong Kong)

Three Wall Street banks say they have set standards to factor in the environmental risks from carbon emissions when lending to power companies that want to build coal-fired power plants. The "carbon principles" adopted by Citi, JPMorgan Chase and Morgan Stanley do not dictate how power companies should generate electricity. But if a utility selects a technology that emits high amounts of carbon dioxide, the banks have agreed to factor these risks into the final financing decision.

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