{"id":2721,"date":"2008-02-05T19:47:07","date_gmt":"2008-02-06T01:47:07","guid":{"rendered":"http:\/\/wordpress-367309-1145705.cloudwaysapps.com\/2008\/02\/05\/banks-announce-carbon-principles\/"},"modified":"2008-02-05T19:47:07","modified_gmt":"2008-02-06T01:47:07","slug":"banks-announce-carbon-principles","status":"publish","type":"post","link":"https:\/\/sustainablog.org\/articles\/banks-announce-carbon-principles\/","title":{"rendered":"Banks Announce “Carbon Principles”"},"content":{"rendered":"
<\/a>Spurred by looming federal policy on CO2 emissions, many banks are exploring how to mitigate their financial risk as much as possible. This week, Citigroup, Morgan Stanley, and JP Morgan announced guidelines to help them determine whether to lend money to projects that emit a lot of carbon dioxide (CO2) – like coal-fired power plants.<\/p>\n The Principles are:<\/p>\n An attorney for the Natural Resources Defense Council lauded this move in the bank industry’s news release<\/a>:<\/p>\n Expectations are rising fast for this industry. Global warming is changing the competitive landscape. Clean power is the name of the game today. Conventional coal facilities are already facing intensive scrutiny. We think the serious money is increasingly going to be on clean, efficient solutions.<\/p><\/blockquote>\n But as Matt over at Watthead<\/a> pointed out, these are just guidelines – the banks are certainly not saying they won’t ever finance another old-fashioned coal plant.<\/p>\n Watthead<\/a> Spurred by looming federal policy on CO2 emissions, many banks are exploring how to mitigate their financial risk as much as possible. This week, Citigroup, Morgan Stanley, and JP Morgan [ … ]<\/p>\n","protected":false},"author":83,"featured_media":17414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36,21],"tags":[363,133,204,364,365,366],"yoast_head":"\n\n
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\n Citigroup<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"