JPMorgan Chase announced its departure from the Net-Zero Banking Alliance, citing a commitment to 'pragmatic solutions' for low-carbon technologies. The move follows pressure from Republican politicians who questioned the alliance's legality.
said on Tuesday it was leaving the Net-Zero Banking Alliance , the latest U.S. lender to quit the sector’s biggest climate coalition amid rising U.S. political pressure.JPMorgan gave no clear reason for leaving the initiative, yet it comes after months of pressure from some Republican politicians who said membership of such coalitions could breach anti-trust rules.
“We will continue to work independently to advance the interests of our Firm, our shareholders and our clients and remain focused on pragmatic solutions to help further low-carbon technologies while advancing energy security,” a company spokesperson said in a statement. “We will also continue to support the banking and investment needs of our clients who are engaged in energy transition and in decarbonizing different sectors of the economy.”
Study and track financial data on any traded entity: click to open the full quote page. Data updated as ofMajor U.S. banks quit climate alliance, Canada’s factory activity rises and personal finance changes in 2025: Must-read business and investing storiesMajor U.S.
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