Is JPMorgan turning a corner on climate finance?

Let’s get this out of the way: JPMorgan Chase doesn’t have the best reputation in the climate sector. Since the Paris Agreement was signed in 2016, the bank has financed more than $430 billion worth of fossil fuel projects, according to the most recent Banking on Climate Chaos report, far exceeding its peers.
But there’s some evidence to suggest the bank is turning a corner. In 2021, JPMorgan said it would lend and underwrite $2.5 trillion by the end of the decade “to advance long-term solutions that address climate change and contribute to sustainable development.” Of that, it’s earmarking $1

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