• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Top fossil fuel lender JPMorgan joins UN climate action finance plan

October 8, 2021 by David Barret Leave a Comment

October 8, 2021

By Elizabeth Dilts Marshall

NEW YORK (Reuters) – JPMorgan Chase & Co said Friday it was joining the United Nation’s Net-Zero Banking Alliance, a group of global banks that have committed to dramatically reducing their carbon financing and investment activities.

As the largest U.S. bank and a major lender to the fossil fuel industry, JPMorgan has been criticized for not joining the group, which launched in April, sooner. The announcement comes ahead of next month’s UN Climate Change Conference, known as COP 26, in Glasgow.

A JPMorgan executive said it was time to join rivals Bank of America, Citigroup, Morgan Stanley and others in aligning its climate plan with the UN’s Race to Zero campaign.

“We are joining the Net Zero Banking Alliance because we support the ambition for greater climate action, the sharing of best practices and a collaborative approach between the public and private sectors to reach this goal,” Marisa Buchanan, JPMorgan’s global head of sustainability, said in a statement.

Member banks are required to submit science-based climate plans that cover all types of emissions, include 2030 interim targets and commit to transparent reporting and accounting. Banks have 18 months to set the 2030 interim targets.

Critics say the group’s targets are too weak and flexible.

In May, JPMorgan set out mid-term, carbon reduction goals for clients, including asking oil and gas clients reduce the intensity of direct and indirect emissions.

(Reporting by Elizabeth Dilts Marshall; Editing by Cynthia Osterman)

Source Link Top fossil fuel lender JPMorgan joins UN climate action finance plan

David Barret
David Barret

Related posts:

  1. IMF says crucial Chad gets debt treatment deal with private creditors
  2. Asian shares at 1-month low, default fears stalk China Evergrande
  3. Allianz speeds up succession planning in light of Structured Alpha lawsuits
  4. Union at Exxon Beaumont, Texas, refinery faces removal vote

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Pretty In Purple: Why Do Some Otters Have Purple Teeth And Bones? It’s All Down To Their Spiky Diets
  • The World’s Largest Carnivoran Is A 3,600-Kilogram Giant That Weighs More Than Your Car
  • Devastating “Rogue Waves” Finally Have An Explanation
  • Meet The “Masked Seducer”, A Unique Bat With A Never-Before-Seen Courtship Display
  • Alaska’s Salmon River Is Turning Orange – And It’s A Stark Warning
  • Meet The Heaviest Jelly In The Seas, Weighing Over Twice As Much As A Grand Piano
  • For The First Time, We’ve Found Evidence Climate Change Is Attracting Invasive Species To Canadian Arctic
  • What Are Microfiber Cloths, And How Do They Clean So Well?
  • Stowaway Rat That Hopped On A Flight From Miami Was A “Wake-Up Call” For Global Health
  • Andromeda, Solar Storms, And A 1 Billion Pixel Image Crowned Best Astrophotos Of The Year
  • New Island Emerges In Alaska As Glacier Rapidly Retreats, NASA Satellite Imagery Shows
  • With A New Drug Cocktail, Scientists May Have Finally Found Flu’s Universal Weak Spot
  • Battered Skull Confirms Roman Amphitheaters Were Beastly For Bears
  • Mine Spiders Bigger Than A Burger Patty Lurk Deep In Abandoned Caves
  • Blackout Zones: The Places On Earth Where Magnetic Compasses Don’t Work
  • What Is Actually Happening When You Get Blackout Drunk? An Ethically Dubious Experiment Found Out
  • Koalas Get A Shot At Survival As World-First Chlamydia Vaccine Gets Approval
  • We Could See A Black Hole Explode Within 10 Years – Unlocking The Secrets Of The Universe
  • Denisovan DNA May Make Some People Resistant To Malaria
  • Beware The Kellas Cat? This “Cryptid” Turned Out To Be Real, But It Wasn’t What People Thought
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version