JPMorgan Has a New Way to Gauge Its Green Progress
The biggest US bank says it’s including zero-carbon power generation in how it measures emissions tied to its lending to oil and gas companies.
Jamie Dimon, chief executive of JPMorgan Chase & Co., says the energy transition requires $4 trillion of annual investment, a figure which brings with it “the potential to generate a wave of growth and opportunity.”
Photographer: Jason Alden/BloombergThe world’s leading fossil fuel financier has come up with a new way to assess how well it’s supporting a low-carbon transition.
JPMorgan Chase & Co. is changing how it calculates greenhouse gas emissions that flow from the funding it provides oil and gas companies. The Wall Street giant run by Chief Executive Officer Jamie Dimon said it’s adding its financing of zero-carbon power generation to the calculus.