JPMorgan Joins UN Climate Action Finance Plan

JPMorgan followed rivals Bank of America, Citigroup, Morgan Stanley and others in aligning its climate plan with the U.N.’s Race to Zero campaign.

Elizabeth Dilts Marshall, Reuters

JPMorgan Chase & Co. said Oct. 8 it was joining the U.N.’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 U.N. 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 U.N.’s Race to Zero campaign.

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