In an effort to protect their own future investments in power plants, three major banks (Citigroup Inc., J.P. Morgan Chase & Co. and Morgan Stanley) have established environmental standards which must be met before they will agree to finance new projects. The move reflects the banks' view that government standards regulating greenhouse gas emissions on the way.

The standards will require an analysis of efficiency options, renewable options, sequestration options, and a financial analysis considering the costs greenhouse-gas cap and trade system.  These standards will make it more difficult for traditional coal-fired power plants to be built.

Read the story at The Wall Street Journal