The Guardian: Senators accuse JPMorgan’s Jamie Dimon of backtracking on climate commitments

JPMorgan Chase, the world’s biggest investor in fossil fuels, may have misled investors and the public by backtracking on its already weak climate and environmental commitments, six US senators have warned in a letter to the CEO Jamie Dimon.

Although a climate-disrupted world demands stronger action by the financial sector to reduce emissions and protect nature, the Wall Street firm is heading in the opposite direction, say the upper chamber legislators, who include Senate banking committee member Elizabeth Warren.

They have demanded clarification about the intentions of the world’s biggest bank. Senator Warren said: “If JPMorgan Chase has misled investors and the public, both Congress and regulators have a range of tools to respond as necessary.” They have given the bank until 24 July to reply.

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