Wall Street Shows Skepticism Over Coal

December 1, 2008
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Date: 02-04-2008
Type: news brief
Categories: Clean Technology / Socially Responsible Investing
Source: Wall Street Journal

Wall Street Journal

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Wall Street Journal

Three of Wall Street's biggest investment banks are set to announce that they are imposing new environmental standards that will make it harder for companies to get financing to build coal-fired power plants in the U.S.

Citigroup Inc., J.P. Morgan Chase & Co. and Morgan Stanley say they have concluded that the

U.S.

government will cap greenhouse-gas emissions from power plants sometime in the next few years. The banks will require utilities seeking financing for plants before then to prove the plants will be economically viable even under potentially stringent federal caps on carbon dioxide, the main man-made greenhouse gas.

The move shows Wall Street is the latest U.S. business sector that sees some kind of government emissions-capping as inevitable. But it shows disagreement about what to do.

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