Big Banks Develop "The Carbon Principles"

Citi, JPMorgan, and Morgan Stanley have formed The Carbon Principles in anticipation of future greenhouse gas regulations, including an emissions cap.  The hope is that the Principles will be adopted by other financial institutions and encourage investment  and funding of renewable energy projects.  The Principles do not forbid the financing of coal projects, but impose greater hurdles.  For more information see The Environmental Leader.  For Bank of America's approach see the Wall Street Journal Blog.