JPMorgan Chase CEO Jamie Dimon called for more robust climate action, but the bank has committed $430 billion to fossil fuels since 2015.
The 2023 Banking on Climate Chaos report highlights JPMorgan Chase and other major banks' continued heavy investment in fossil fuels, contradicting climate goals.
In 2023, fossil fuel pollution reached record levels, and JPMorgan Chase increased its fossil fuel financing despite global climate crises and extreme weather events.
Major banks, including JPMorgan Chase, have been accused of greenwashing by claiming climate-friendly policies while continuing substantial fossil fuel financing.
To achieve a true clean energy transition, banks need to significantly increase their financing of clean energy projects relative to fossil fuels, currently far from the necessary 4:1 ratio.
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