• 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 9, 2021 by David Barret Leave a Comment

October 9, 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.

JPMorgan followed 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.

“Without a plan to stop funding the expansion of fossil fuels, commitments like this are completely inadequate,” said Ben Cushing, fossil-free finance campaign manager at the Sierra Club.

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. [L1N2MZ2S4]

(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. Guns, drugs, jobs. In these Venezuelan towns, Colombian rebels call the shots
  2. ADM launches flavour production facility in China to meet growing demand
  3. Commerzbank to appoint new board members from Erste and Roland Berger – Handelsblatt
  4. Which form of venture debt should your startup go for?

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published.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

Primary Sidebar

  • Martian Mudstone Has Features That Might Be Biosignatures, New Brain Implant Can Decode Your Internal Monologue, And Much More This Week
  • Crocodiles Weren’t All Blood-Thirsty Killers, Some Evolved To Be Plant-Eating Vegetarians
  • Stratospheric Warming Event May Be Unfolding In The Southern Polar Vortex, Shaking Up Global Weather Systems
  • 15 Years Ago, Bees In Brooklyn Appeared Red After Snacking Where They Shouldn’t
  • Carnian Pluvial Event: It Rained For 2 Million Years — And It Changed Planet Earth Forever
  • There’s Volcanic Unrest At The Campi Flegrei Caldera – Here’s What We Know
  • The “Rumpelstiltskin Effect”: When Just Getting A Diagnosis Is Enough To Start The Healing
  • In 1962, A Boy Found A Radioactive Capsule And Brought It Inside His House — With Tragic Results
  • This Cute Creature Has One Of The Largest Genomes Of Any Mammal, With 114 Chromosomes
  • Little Air And Dramatic Evolutionary Changes Await Future Humans On Mars
  • “Black Hole Stars” Might Solve Unexplained JWST Discovery
  • 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
  • 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