Why is J.P. Morgan
“Climate Killer No.1”?
J.P. Morgan has given more money than any other bank to future-hostile fossil fuel industries since the Paris Climate Agreement. According to the 2023 Banking on Climate Chaos study, J.P. Morgan invested more than $400 billion U.S. in anti-climate coal, oil and gas companies from 2016 to 2022.
The IPCC report of March 20, 2023 shows that the climate crisis is getting worse and worse, making comprehensive, forward-looking change in the global financial industry ever more urgent. Despite these drastic developments, J.P. Morgan still financed almost 40 billion US dollars fossil energy in 2022 – and thus in the destruction of our livelihoods.
J.P. Morgan’s finances can be found in the following recent study:
Banking On Climate Chaos – Fossil Fuel Finance Report 2023
The data was compiled by experts from several NGOs such as urgewald and Reclaim Finance.
What does the J.P. Morgan Corporate Challenge have to do with all this?
The J.P. Morgan Corporate Challenge is one of the bank’s biggest PR campaigns. The bank calls on people to run for a good cause – and conceals the fact that at the same time it is investing billions in the destruction of our livelihoods.
Events like the run can actually do good – but they also serve to polish up the bank’s image and distract attention from its dirty business.
What needs to happen?
The KoalaKollektiv makes a key demand of J.P. Morgan: Stop funding fossil fuels immediately!
We have sent an open letter to the companies involved in the run urging them to join us in our demand.
Please sign and spread the word!