Investment Firms Want Price for Carbon

This is great! Knowing that the tide is turning, a growing number of investment firms want an explicit financial price tag for global warming pollution to make planning easier. How far have we come in the last 5 years that they're now asking for regulation!

Here's a piece of the Denver Post article from yesterday:

Banks, investment firms, corporations and utilities have begun to price out carbon emissions at $20 per ton. Bank of America, the nation's second-largest bank, is the latest addition to this list. In a February speech, CEO Ken Lewis stated, "We need a stable and predictable regulatory environment with a bias toward clean energy and the green economy. When innovators and financial backers are confident of government support, risk calculations change and good things happen."

To help realize that stable market, he announced the bank's decision to price global warming pollution at $20 to $40 per ton in assessing risks for lending.

This announcement follows an earlier call to action by more than 60 leading investors, asset managers and companies with assets totaling $4 trillion. This group, which includes ALCOA, Sun Microsystems, and Dupont, called on the federal government to tackle global warming and included a call for pricing of global warming pollution.