Vice chairman of investment banking and capital markets at Wells Fargo Securities, Eric Fornell possesses expertise in the energy and utility sectors. Eric Fornell is knowledgeable about The Carbon Principles, an agreement he helped negotiate while serving JPMorgan Chase.
The Carbon Principles were formulated in response to anticipated government capping of greenhouse gas emissions in 2008. Creators JPMorgan Chase, Citigroup, and Morgan Stanley dedicated nine months to drafting the standards and took into consideration feedback from environmental groups and large utility companies, such as American Electric Power and DTE Energy.
Aimed at reducing greenhouse gas pollution, The Carbon Principles require a rigorous evaluation process for financing a coal-burning power plant. Organizations seeking financial support must demonstrate an ability to capture greenhouse gas emissions produced and redirect them underground. In addition, the principles include measures to educate customers about renewable energy as an alternative to coal as well as advocacy for government policies that promote efficient use of energy and increase accessibility to renewable energy sources.
The Carbon Principles were formulated in response to anticipated government capping of greenhouse gas emissions in 2008. Creators JPMorgan Chase, Citigroup, and Morgan Stanley dedicated nine months to drafting the standards and took into consideration feedback from environmental groups and large utility companies, such as American Electric Power and DTE Energy.
Aimed at reducing greenhouse gas pollution, The Carbon Principles require a rigorous evaluation process for financing a coal-burning power plant. Organizations seeking financial support must demonstrate an ability to capture greenhouse gas emissions produced and redirect them underground. In addition, the principles include measures to educate customers about renewable energy as an alternative to coal as well as advocacy for government policies that promote efficient use of energy and increase accessibility to renewable energy sources.