Financial professional Eric Fornell has worked on a variety of projects throughout the United States and Canada as part of his banking career. Eric Fornell helped to negotiate the Carbon Principles, an agreement among Citi, JP Morgan Chase, and Morgan Stanley, and a handful of the world’s most influential power companies. Several environmental groups, including Environmental Defense and the Natural Resources Defense Council, were also involved in the process.
The Carbon Principles agreement marks the first time that power companies and financial institutions have come together to understand and respond to carbon-related risks in power investments. The Carbon Principles include energy efficiency, renewable and low carbon distributed energy technologies, and conventional and advanced generation.
This collaboration between carbon companies and banks was designed to positively impact the ways in which financial institutions finance coal-fired power plants. Additionally, the agreement is meant to encourage investing in safe, affordable, and widely available sources of energy in a manner that assists with job growth.
More information about the Carbon Principles is available here: www.morganstanley.com/press-releases/leading-wall-street-banks-establish-the-carbon-principles_6017