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JPMorgan Becomes Latest Big Bank to Ditch Coal

Energy
JPMorgan Becomes Latest Big Bank to Ditch Coal

JPMorgan Chase announced that it will no longer finance new coal mines around the world or new coal-fired power plants in industrialized countries.

“We believe the financial services sector has an important role to play as governments implement policies to combat climate change,” the bank said in a new policy statement. JPMorgan joins a growing list of other large financial institutions, like Bank of America and Wells Fargo, that have stopped supporting coal projects. 

For a deeper dive: Financial Times, Bloomberg, E&E News

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