ESG & Investing
JPMorgan Pursues Deals to Fund Shutdown of Coal-Fired Power
- Bank joins HSBC, StanChart and BofA in rethinking coal finance
- IEA says world can’t do 1.5C without solving ‘problem of coal’
A decommissioned coal-fired power station in Warrington, England.
Photographer: Christopher Furlong/Getty ImagesThis article is for subscribers only.
JPMorgan Chase & Co. is actively pursuing deals to finance the early shutdown of coal-fired power plants, joining a list of global banks that are rethinking their approach to handling the world’s dirtiest fossil fuel.
“We certainly have the appetite,” Andre Abadie, managing director of JPMorgan’s Centre for Carbon Transition, told Bloomberg. The bank is currently examining a number of viable projects, he said.