February 4, 2008 / 8:45 AM / 12 years ago

Banks to launch environmental standards: report

A Citibank branch is pictured in Singapore January 22, 2008. Top U.S. investment banks are set to impose environmental standards that will make it harder for companies to acquire financing for coal-fired power plants, in preparation for government caps on greenhouse-gas emissions, The Wall Street Journal reported on Monday. REUTERS/Alywin Chew

NEW YORK (Reuters) - Top U.S. investment banks are set to impose environmental standards that will make it harder for companies to acquire financing for coal-fired power plants, in preparation for government caps on greenhouse-gas emissions, The Wall Street Journal reported on Monday.

The report said Citigroup Inc, JP Morgan Chase & Co, and Morgan Stanley, expect the U.S. government to cap power-plant emissions in the next few years, and will thus require utilities seeking financing for plants to prove that those facilities will be viable under new regulations.

Representatives from the banks were not immediately available for comment, but the report said banks do not want to be involved with debt that sours as a result of government emissions regulations.

Reporting by Ritsuko Ando; Editing by Quentin Bryar

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