JP MORGAN CHASE & CO. | Chair and CEO election

Status
Filed
AGM date
Resolution details
Company ticker
JPM
Submitted by
ShareAction
Resolution ask
Amend board structure
ESG theme
  • Environment
ESG sub-theme
  • Fossil fuel financing
Type of vote
Director vote
Filer type
Management
Company sector
Financials
Company HQ country
United States
Supporting materials
  • Director-Voting-Research-Note-JPMorgan-Chase.pdf Download
Resolved clause
Re-election of Jamie Dimon, Chair and CEO…………… AGAINST
By removing its restrictions on thermal coal and Arctic oil & gas, we believe JPMorgan Chase (JPM) has traded transparency for ambiguity. While the bank states that it will assess financing for these sectors on a case-by-case basis going forward, the limits of its risk appetite are now unclear. Any increase of its financing into thermal coal or Arctic oil & gas could result in significant risks for the bank, communities, and environment. Ultimately, this decision weakens what was already a weak stance on fossil fuels. It is the responsibility of JPM’s Chair and CEO, Jamie Dimon, to ensure the board is exercising oversight of the bank’s approach to managing climate risks and capturing opportunities from the energy transition. The downgrading of the banks restrictions undermines our confidence that this oversight function is being exercised with sufficient effect. On this basis, we believe a vote
against Mr Dimon’s re-election is justified.

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