{"id":1004395361,"date":"2020-02-26T17:43:53","date_gmt":"2020-02-27T01:43:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004395361"},"modified":"2020-02-26T17:43:53","modified_gmt":"2020-02-27T01:43:53","slug":"jpmorgan-chase-to-restrict-fossil-fuel-project-funding","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/","title":{"rendered":"JPMorgan Chase to Restrict Fossil Fuel Project Funding"},"content":{"rendered":"<div id=\"attachment_1004372630\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/globe-4075006_960_720.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004372630\" data-attachment-id=\"1004372630\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ieas-world-energy-outlook-2019\/globe-4075006_960_720\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/globe-4075006_960_720.jpg\" data-orig-size=\"853,640\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1575369230&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"globe-4075006_960_720\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Image via Pixabay&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/globe-4075006_960_720.jpg?w=853\" class=\"wp-image-1004372630 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/globe-4075006_960_720.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/globe-4075006_960_720.jpg 853w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/globe-4075006_960_720.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/globe-4075006_960_720.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004372630\" class=\"wp-caption-text\"><em>Image via Pixabay<\/em><\/p><\/div>\n<p>JPMorgan Chase had committed to two initiatives in 2017 that were tailored to support sustainability. The company had pledged to facilitate $200 billion in clean financing by 2025 and use 100 percent renewable energy sources to power its global operations by 2020. Now, the firm announced that both goals are expected to be reached by the end of this year and pledged to further promote sustainable development.<\/p>\n<p>To reach these targets, the company has launched the J.P. Morgan Development Finance Institution. The entity will be led by Faheen Allibhoy and will focus on growing the firm\u2019s development finance activities and spur private investment into emerging markets.<\/p>\n<p>In addition, an Environmental Social and Government Solutions group will be established to assist clients in reducing their carbon emissions, along with investing in ESG expertise such as publishing ESG research and creating EDG fixed income indices. JPMorgan Chase will reduce its funding of coal and Arctic oil and gas, and by 2024, it will phase out remaining credit exposure to companies deriving the majority of their revenues from such activities.<\/p>\n<p>The bank is the <a href=\"https:\/\/www.commercialsearch.com\/news\/worlds-biggest-banks-uneven-ways-in-project-financing\/\">largest funder of fossil fuels<\/a>, and according to the Banking of Climate Change 2019 report\u2014which ranked U.S. banks as the largest lenders to fossil fuel projects\u2014it provided nearly $196 billion between 2016 and 2019 to such developments. JPMorgan Chase\u2019s commitment to low-carbon economy and clean energy transition to advance sustainable development goals follows similar pledges made by several European banks and by Goldman Sachs, which was also the first U.S. bank to announce such limits on fossil fuel funding.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The announcement follows similar pledges made by several European banks and by Goldman Sachs, which was also the first U.S. bank to announce limits on fossil fuel funding.<\/p>\n","protected":false},"author":237,"featured_media":1004372630,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,16,23891,21742,21786],"tags":[35274],"class_list":["post-1004395361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-international","category-national","category-latest","category-sustainability","tag-jpmorgan-chase"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JPMorgan Chase to Restrict Fossil Fuel Project Funding - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JPMorgan Chase to Restrict Fossil Fuel Project Funding\" \/>\n<meta property=\"og:description\" content=\"The announcement follows similar pledges made by several European banks and by Goldman Sachs, which was also the first U.S. bank to announce limits on fossil fuel funding.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-27T01:43:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/globe-4075006_960_720.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"853\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/\",\"name\":\"JPMorgan Chase to Restrict Fossil Fuel Project Funding - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/globe-4075006_960_720.jpg\",\"datePublished\":\"2020-02-27T01:43:53+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/globe-4075006_960_720.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/globe-4075006_960_720.jpg\",\"width\":853,\"height\":640,\"caption\":\"Image via Pixabay\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"JPMorgan Chase to Restrict Fossil Fuel Project Funding\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\",\"name\":\"Anca Gagiuc\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"caption\":\"Anca Gagiuc\"},\"description\":\"Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/anca-gagiuc\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"JPMorgan Chase to Restrict Fossil Fuel Project Funding - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/","og_locale":"en_US","og_type":"article","og_title":"JPMorgan Chase to Restrict Fossil Fuel Project Funding","og_description":"The announcement follows similar pledges made by several European banks and by Goldman Sachs, which was also the first U.S. bank to announce limits on fossil fuel funding.","og_url":"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2020-02-27T01:43:53+00:00","og_image":[{"width":853,"height":640,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/globe-4075006_960_720.jpg","type":"image\/jpeg"}],"author":"Anca Gagiuc","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/","url":"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/","name":"JPMorgan Chase to Restrict Fossil Fuel Project Funding - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/globe-4075006_960_720.jpg","datePublished":"2020-02-27T01:43:53+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/globe-4075006_960_720.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/globe-4075006_960_720.jpg","width":853,"height":640,"caption":"Image via Pixabay"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/jpmorgan-chase-to-restrict-fossil-fuel-project-funding\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"JPMorgan Chase to Restrict Fossil Fuel Project Funding"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7","name":"Anca Gagiuc","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g","caption":"Anca Gagiuc"},"description":"Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com","url":"https:\/\/www.commercialsearch.com\/news\/author\/anca-gagiuc\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/globe-4075006_960_720.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004395361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/237"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004395361"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004395361\/revisions"}],"predecessor-version":[{"id":1004395529,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004395361\/revisions\/1004395529"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004372630"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004395361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004395361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004395361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}