AlwaysFree: Coal, Arctic Oil And Gas Funding To Be Restricted By JPMorgan Chase

An intent to reduce the funding of coal and Arctic oil and gas announced by JPMorgan Chase. A number of European banks and Goldman Sachs previously have made similar commitments.

For its outsized support of fossil fuels, JPMorgan Chase has been under fire from a range of groups. Reports showing JPMorgan’s pivotal role in contributing to climate change have been published by Sierra Club, Rainforest Action Network, and World Resources Institute.

Investor concern has been increasing for JPMorgan’s inaction on climate. Climate-related shareholder proposals faced by JPMorgan this year. In line with the Paris 1.5 degree goal, the proposals request JPMorgan measure and reduce its carbon-intensive lending.

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