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Banks Continue to Prop Up Fossil Fuels as the Climate Crisis Accelerates

  • 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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