Environmental Defense Works With Banks To Push Power Companies To Cut Carbon Emissions And Invest In Alternative Energy

Three of the world's largest financial institutions announced today the formation of The Carbon Principles, climate change related investment guidelines for financial institutions and power companies investing in energy projects in the United States. The Principles commit institutions to take a portfolio approach to energy investments, prioritizing energy efficiency and renewables, and institute a rigorous review process when contemplating investments in coal-fired generation. Citi, JPMorgan Chase and Morgan Stanley developed these principles in consultation with Environmental Defense, the Natural Resources Defense Council, and several major U.S. electric utilities.

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