The department of some firms will do anything for a buck:
“JPMorgan and Innovest Strategic Value Advisors launched today the JPMorgan Environmental Index-Carbon Beta (JENI-Carbon Beta), the first bond index designed to address the risks of global warming. The JENI-Carbon Beta, a United States high-grade corporate bond index, enables credit investors to make return-driven investment decisions that systematically take into account risks and opportunities issuers face as they address climate change. “Until today, bond prices did not reflect an increasingly important financial risk: climate change,” said Edward Marrinan, managing director and head of investment grade credit strategy. “With climate exposures factored in, companies’ risk profiles — and their bonds — will more accurately reflect the trade-off between risk and return.”
