28 Nov '11, 2am

‘Green’ Banking Part III: Reducing Environmental Underwriting Risk

‘Green’ Banking Part III: Reducing Environmental Underwriting Risk

How do ESG criteria affect lending? Consider coal power, which accounts for over 50% of electricity generation in the United States. Coal is the most carbon intensive fossil fuel and, correspondingly, is an energy source facing increasing regulatory challenges related to its greenhouse gas emissions and other environmental issues. Leading banks such as Citi, Bank of America, Wells Fargo, JP Morgan Chase, and Credit Suisse understood that this increased regulatory risk represents a tangible risk to project finance in coal powered electricity generation. In response, each of these banks adopted the Carbon Principles, which is an enhanced due diligence process aimed at providing a consistent approach for banks and their US power clients to evaluate and address carbon risks in the financing of electric utility projects.

Full article: http://www.environmentalleader.com/2011/11/27/green-banki...

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