JPMorgan Chase
NYSE: JPM15Greenwashing / Harmful· ProvisionalLargest US bank and ranked the world's biggest financier of fossil fuels by Banking on Climate Chaos, providing tens of billions annually to oil, gas, and coal companies.
Why it's on ClimateTicker
JPMorgan Chase is the world's single largest financier of fossil fuels, committing $53.5 billion to fossil fuel companies in 2024 alone — a figure that dwarfs any green finance activity it simultaneously touts. The bank has retreated from its own 2030 operational emissions targets, exited the Net Zero Banking Alliance in January 2025, and never obtained SBTi validation for its financed-emissions targets; its $1 trillion green finance pledge is materially outweighed by its continued expansion of fossil fuel lending. Investors should treat JPMorgan's sustainability marketing with extreme skepticism: the gap between its headline climate commitments and its core capital allocation is one of the widest in global banking.
Commitments & Certifications
Controversy & Greenwashing Watch
Banking on Climate Chaos 2025 identified JPMorgan Chase as the single largest global financier of fossil fuels in 2024, with $53.5 billion committed — an increase year-over-year and the highest of any bank in the world.source ↗
JPMorgan exited the UN-backed NZBA in January 2025, completing the departure of all major US banks from the group and signaling a retreat from binding net-zero finance commitments.source ↗
In its October 2024 Sustainability Report, JPMorgan quietly withdrew its commitment to reduce operational emissions 40% by 2030, having achieved only 14% reduction — and dropped time- and percent-bound targets entirely.source ↗
Multiple shareholder coalitions (NYC pension funds, As You Sow) filed proposals demanding absolute GHG reduction targets and concrete transition plans, arguing JPMorgan's intensity-based targets and vague reporting create material greenwashing and litigation risk.source ↗
In 2023, JPMorgan introduced a new metric combining clean energy funding with fossil fuel emissions data, which independent analysts say makes it harder to track year-on-year progress and raises transparency and greenwashing concerns.source ↗
Despite pledging in 2021 to align financing with Paris Agreement goals, JPMorgan increased fossil fuel financing nearly to pre-pandemic levels that same year and has continued to fund fossil fuel expansion — including LNG, tar sands, and fracking — in every subsequent year.source ↗
Community Reviews
No reviews yet. Be the first to share your experience!