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

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.

The document released Wednesday was produced by a committee that advises the U.S. Commodity Futures Trading ...