JPMorgan says it’s going to fund $200 billion in sustainable offers this yr
Jamie Dimon, CEO of JP Morgan Chase, seems on CNBC’s Squawk Field on the 2020 World Financial Discussion board in Davos, Switzerland on Jan. 22nd, 2020.
Adam Galica | CNBC
The brand new targets, disclosed Tuesday in shows for the New York-based financial institution’s annual investor day, mark an growth from earlier sustainable financing targets. Aside from serving to to fund new local weather and financial inclusion initiatives world wide, the financial institution stated it was taking new steps to speed up the transition to scrub power.
On prime of stepping again from advising firms that get most of their income from coal extraction, JPMorgan stated it’s going to put restrictions on financing new coal-fired energy crops, section out “credit score publicity” to the trade by 2024 and can cease funding new oil and fuel drilling initiatives within the Arctic.