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JPMorgan Lays Down Carbon Reduction Goals For Clients

By John F. Heerdink, Jr.

Reportedly, JPMorgan Chase & Co (JPM) has set out mid-term, carbon reduction goals for clients, as the bank faces pressure to align their financing activities with their climate change commitments. JPMorgan Chase & Co is asking its clients in the auto industries and electric power to meet carbon intensity reduction goals. Its oil and gas clients have been asked to reduce the intensity of direct and indirect emissions, plus emissions from the combustion of oil and natural gas.

“We are taking steps to address the emissions of the clients we finance,” stated Marisa Buchanan, JPMorgan’s global head of sustainability.

She further added how the targets signal the bank’s expectations that its clients operate responsibly and take all the necessary steps to invest in a lower carbon future.

Banks are facing growing pressure to disclose more about emissions from activities they finance. JPMorgan and other wider financial services industries have been under scrutiny by climate activists highlighting the industry’s backing for carbon-heavy projects contrary to the 2015 Paris agreement on climate change.

JPMorgan Chase & Co (JPM) is a global financial service leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and commercial banking. To learn more about JPMorgan Chase & Co. (JPM) and to continue to track its progress please visit the Vista Partners JPMorgan Chase & Co. Coverage Page.

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(Read Original Story: JPMorgan debuts carbon reduction goals for clients in Reuters)


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