JP MORGAN CHASE & CO. | Net Zero Audit at JP MORGAN CHASE & CO.

Status
Omitted
AGM date
Previous AGM date
Resolution details
Company ticker
JPM
Lead filer
New Breeze
Resolution ask
Report on or disclose
ESG theme
  • Environment
ESG sub-theme
  • Net Zero / Paris aligned
Filer type
Shareholder
Company sector
Financials
Company HQ country
United States
Resolved clause
Net Zero Audit Shareholders request that, beginning in 2026, JPMorgan Chase report annually to shareholders on its net zero activities, including: memberships in organizations advocating net zero goals and policies, activities and transactions involving net zero goals and policies, and corporate commitments or agreements involving net zero goals and policies. The report should omit proprietary and/or confidential business information.
Supporting statement
"JPMorgan Chase states on its web site that: “We are focused on doing our part to support the transition by helping our clients achieve their net zero objectives. Leveraging our expertise and balance sheet, we aim to provide strategic advice and financing solutions to help our clients achieve their decarbonization goals.” But there are significant problems associated with “net zero” goals and policies: The utility industry has determined that economy-wide “net zero” is not possible. https://lcri netzero.epri.com/ The most recent United Nations “Emission Gap” report indicates that emissions have steadily increased on global basis since 1990. https://www.unep.org/resources/emissions-gap-report-2024 The United Nations World Meteorological Organization recently concluded that there “no end in sight to the rising trend” of greenhouse gas emissions. https://news.un.org/en/story/2023/11/1143607 The financial sector has now begun questioning the validity of current net zero policies and advocacy. https://www.iif.com/portals/0/Files/content/Regulatory/32370132_iif_staff_position_paper_o n_net_zero_transition_final_publication.pdfThe state of New York has sued companies for allegedly making false “net zero” claims. https://ag.ny.gov/press-release/2024/attorney-general-james-sues-worlds-largest-beef-producer misrepresenting The attorneys general for Iowa, Kansas, Nebraska and Tennessee are investigating whether corporate “net zero” claims amount to consumer fraud. Activist groups have sued corporations for false “net zero” claims. https://www.reuters.com/sustainability/climate-energy/green-group-sues-tyson-foods-allegedly false-climate-claims-2024-09-18/ Corporations are abandoning “net zero” pledges. https://www.telegraph.co.uk/business/2024/09/08/ftse 100-companies-ditch-jeff-bezos-funded-climate-pledge/ Shareholders have the right to know the extent that JPMorgan Chase has committed itself to “net zero” policies that may be viewed by governments and others as actionable corporate misconduct and/or consumer/investor fraud."

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