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Non-Tech : Climate Change, Global Warming, Weather Derivatives, Investi

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From: Sam Citron	4/27/2007 8:04:34 AM
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J.P. Morgan Index Takes Green View [WSJ] By a WALL STREET JOURNAL Staff Reporter February 27, 2007; Page C8 NEW YORK -- J.P. Morgan Chase & Co. is launching a corporate-bond index that will take into account a company's exposure to toughening global-warming-emission rules when assigning an index weight to its bonds. The launch of the index -- called the J.P. Morgan Environmental Index-Carbon Beta index -- reflects the bank's view of an intensifying effort to curb global warming will create "winners and losers," said Edward Marrinan, head of investment-grade-credit strategy. The debt of FPL Group Inc. gets a higher weighting under the global-warming index than under the usual one. DTE Energy Co. gets a lower one; it burns a lot of coal. A DTE spokesman declined to comment, saying the firm wasn't familiar with the index.

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