Jp Morgan Paris Agreement
JPMorgan Chase & Co. promises to use its funding weight to incentivize customers to align with the Paris Agreement and work towards net-zero global emissions by 2050. The bank said it would invest in technologies that will help reduce carbon emissions and that it would work with its customers to reduce its own carbon footprint. Other banks have made several commitments to end aid to Arctic drilling and coal companies. British banks NatWest Group PLC (formerly RBS Group PLC) and Barclays PLC have both pledged to use their activities to advance the 2015 Paris Agreement, which called on global governments to contain rising temperatures. Citigroup Inc. said earlier this year that it would distance itself from customers who don`t take climate change seriously. President Trump said in 2017 that he would withdraw the United States. the Paris Agreement, which calls the decision a “reaffirmation of our sovereignty.” fortune.com/2020/10/16/jpmorgan-chase-climate-change-carbon-emissions-paris-agreement/ For more information, Rainforest Action Network`s Briefer on JPMorgan Chase`s latest announcement: www.ran.org/jpmc-paris.
The Paris Agreement aims to keep the increase in global average temperature to well below 2 degrees Celsius and ideally 1.5 degrees Celsius – which would force the world to reach net zero emissions by 2050. “The Bank must immediately close the huge loopholes in its coal policy and commit to ending the financing of deforestation. Its obligation to exit coal only covers companies that derive a large part of their revenues from the coal industry, allowing it to continue to finance companies that build new coal-fired power plants and diversifie coal miners. . . .