JP Morgan Responds to Demands for Banks to End Fossil Fuels Financing
JP Morgan Responds to Demands for Banks to End Fossil Fuels Financing
Representative Rashida Tlaib christened an end to fossil fuel financing. Jamie Dimon, JP Morgan Chase CEO, says the frozen sale of oil and gas prices will be ‘the road to hell for America.’
Tlaib, blindsided by the group of bank CEOs assembled in front of Congress, panic-reacted to the CEO’s wisdom and recommended people take their money out of the banking behemoth.
What Happened at the Assembly of Bank CEOs in Congress?
Tlaib asked the CEOs a yes or no question; do they have a policy ‘against funding new oil and gas products’ – to achieve their joint pledge of working to net zero emissions by 2050.
‘Absolutely not,’ was the response from Dimon, ‘and that would be the road to hell for America.’
What Does Dimon Say About America's View on Greenhouse Emissions?
Dimon says the US has greenhouse emissions completely wrong. He asserted the country must invest more in the industry to ensure a long-term emissions decline and fiscal success.
What Does the JP Morgan Chase Carbon Compass Have to Say?
The report reads, ‘To be a part of a low-carbon future, the Oil & Gas sector will need to transform and innovate, which will require substantial capital and strategic support.’
It continues, stating, ‘Significant amounts of capital and strategic advice will be needed to support companies in their low-carbon transition efforts, including to help decarbonize their operations and products and develop new technologies and solutions to address the critical challenges climate change presents.’
What Does the Bank Say?
The bank claimed it was dedicated to decreasing emissions from oil and natural gas production and refining by 35 percent and combustion emissions by 15 percent for a total of 50 percent.
Continue reading America’s Green Road to Hell.
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