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JPMorgan, Morgan Stanley Join Call for U.S. Carbon Pricing

  • CFTC advisers release report on climate risks to Wall Street
  • Authors drawn from banks, insurers, NGOs and energy companies
Photographer: Luke Sharrett/Bloomberg
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The U.S. government should start making businesses pay for their greenhouse gas emissions to help combat global warming, according to a powerful group of finance and energy titans including Morgan Stanley, JPMorgan Chase & Co. and BP Plc.

Climate change poses a significant risk to the financial system and regulators must “move urgently and decisively,” the group said in a report that was signed by executives from the three firms and more than two dozen other global businesses, investors and nonprofit organizations.