May 21, 2019
Jamie Dimon
Chair and CEO JPMorgan Chase & Co. 270 Park Ave.
New York, NY 10017
To Mr. Dimon:
JPMorgan Chase is the world’s leading banker of climate change, by a huge margin. The undersigned 300 organizations, representing over thirty million supporters from around the world, call on your bank to stop financing expansion of fossil fuels, and commit to phasing out funding of fossil fuels in time to limit climate change to 1.5°C.
As we write, communities across the United States and around the globe are facing the devastating effects of climate change, in the form of wildfires, hurricanes, droughts and floods. Indigenous people are disproportionately on the front lines of impacts from, and resistance to, both climate change and fossil fuel extraction and infrastructure. Last year’s historic report from the Intergovernmental Panel on Climate Change shows that while the effects of 1.5°C of warming are dire, 2°C of warming is vastly worse; keeping global warming below 1.5°C requires cutting carbon emissions by almost half by 2030, and to effectively zero by 2050.1 Potential emissions from oil, gas and coal already in production take the world well beyond 2°C, so we need an immediate end to expansion of fossil fuel extraction and infrastructure.2
You have stressed that you support the Paris Agreement. But JPMorgan Chase’s activities are antithetical to the goals of keeping global warming below 1.5°C and fully respecting human and Indigenous rights:3
- Since the Paris Agreement was adopted, JPMorgan Chase has been the world’s biggest banker of fossil fuels overall, with financing nearly 30% higher than the #2 bank.
- Since the Paris Agreement was adopted, JPMorgan Chase has been the world’s biggest banker of the 100 top companies expanding fossil fuels, with financing nearly 70% higher than the #2 bank.
- Since the Paris Agreement was adopted, JPMorgan Chase has been the world’s #1 banker of Arctic oil and gas, ultra-deepwater oil and gas, and liquefied natural gas, the #2 banker of fracked oil and gas, and the #3 banker of tar sands.
- Since the Paris Agreement was adopted, JPMorgan Chase has financed projects and companies that have failed to respect human and Indigenous rights, including Indigenous peoples’ rights to their water and lands, and the right to free, prior and informed consent.
JPMorgan Chase must do its part to realize the goals of the Paris Agreement, which calls for finance to be “consistent with a pathway toward low greenhouse gas emissions.” We call on your bank to align with this call and to announce that:
- JPMorgan Chase will immediately stop financing expansion of fossil fuel extraction and infrastructure.
- JPMorgan Chase commits to phase out fossil fuel finance on a timeline compatible with limiting climatechange to 1.5°C.
- JPMorgan Chase will immediately stop financing projects and companies that fail to respect human andIndigenous rights, including Indigenous peoples’ rights to their water and lands, and the right to free, prior and informed consent.In the coming years, today’s leaders will be judged first and foremost by what they did — or didn’t do — to address climate change. As you plan your succession, in what you have said will be your final years as head of the world’s biggest fossil bank, you face a clear choice. You can forge a legacy as the person who steered the banking sector away from its current path of driving the world toward disaster. Or you can continue with business as usual, and write yourself into history as the bank CEO who did the most to drive the climate crisis.
For our communities and a stable climate, On behalf of the undersigned,
Patrick McCully, Climate and Energy Program Director Rainforest Action Network
- 1% for Open Space
- 198 methods
- 350 Austin
- 350 Brooklyn
- 350 Charlotte
- 350 Chicago
- 350 Colorado
- 350 Corvallis 350 DC
- 350 Eastside
- 350 Eugene
- 350 Madison
- 350 Massachusetts
- 350 Montgomery County, MD
- 350 New Hampshire
- 350 New Orleans
- 350 NYC
- 350 Oregon Central Coast
- 350 Seattle
- 350 Silicon Valley
- 350 SW Idaho
- 350 Tacoma
- 350 Triangle
- 350.org
- 350Kishwaukee
- 350PDX
- 350Wenatchee
- Abibiman Foundation
- ADC Consulting
- Africa Sustainable Energy Assocation
- Agro-ecologie et Environnement Vert
- Alameda County Interfaith Climate Action Network
- Alaska Rising Tide
- Amazon Frontlines
- Amazon Watch
- Another Gulf Is Possible Collaborative
- Anthropocene Alliance
- Aotearoa New Zealand Human Rights Foundation
- Aseduca
- Asian Pacific Environmental Network
- Asociación Interamericana para la Defensa del Ambiente Asociación Potosina por la Dignidad Animal
- Association Carre Geo & Environnement
- Association CRI-AC!
- Athens County (OH) Fracking Action Network Attac France
- Balkan Green Foundation
- Bangladesh Poribesh Andolon
- Bank Information Center
- Banks Talking
- BankTrack
- Berks Gas Truth
- Better Future Project
- Better Path Coalition
- Biofuelwatch
- Bold Alliance
- Bolivian Platform on Climate Change
- Both ENDS
- Bronx Climate Justice North
- Buckeye Environmental Network
- Bucks County Concerned Citizens Against the Pipelines
- Bucks County Sierra Club
- Bucks Environmental Action
- Cambridge Zero Carbon Society
- Canadian Union of Postal Workers/Syndicat des travailleurs et travailleuses des postes
- Carbon Market Watch
- Catholic Divestment Network
- Center for Biological Diversity
- Center for Coalfield Justice
- Center for Earth Ethics
- Center for International Environmental Law
- Central California Environmental Justice Network
- Centre for Financial Accountability
- Centro para la Autonomía y Desarollo de los Pueblos Indíge- nas
- Chesapeake Climate Action Network
- Chicago Area Peace Action
- Chico 350
- Christian Aid
- Citizens Against Longwall Mining
- Citizens Coal Council
- Clean Energy Action
- ClientEarth
- Climate Action Rhode Island
- Climate Emergency Institute
- Climate First!
- Climate Hawks Vote
- Climate Justice Alliance
- Climate Justice at Boston College
- ClimateMama
- Coal River Mountain Watch
- CoalSwarm
- CODEPINK
- Comité Nacional de Lucha Contra el Cambio Climático Communities for a Better Environment
- Community Enhancement and Environmental Awareness Foundation
- Cook Inletkeeper
- Coopération Internationale pour le Développement et la Solidarité
- Corner House
- Corporate Accountability
- Corporate Europe Observatory
- Courage Campaign
- Cream City Conservation
- CREDO
- Crude Accountability
- Cultural Survival
- Daily Kos
- Dakota Rural Action
- Direct Action for Rights & Equality
- Divest Invest
- Divest, Invest, Protect
- DivestBU
- Doodá Desert Rock
- Earth Action, Inc.
- Earthworks
- East Michigan Environmental Action Council
- Eco-Justice Ministries
- EcoEquity
- Ecologistas en Acción
- Ella Baker Center for Human Rights
- Environics Trust
- Extinction Rebellion Seattle
- Extinction Rebellion TC
- FAIRA Aboriginal Corporation
- Farmworker Association of Florida
- Federation of Italian Christian NGOs
- Food & Water Europe
- Food & Water Watch
- Fórum Mudanças Climáticas e Justiça Social: FMCJS Fossil Free
- WashU
- Foundation Earth
- Franciscan Action Network
- Friends for Environmental Justice
- Friends of Lake Turkana
- Friends of the Earth U.S.
- Fund Our Future
- Fundación Ambiente y Recursos Naturales
- Fundación Chile Sustentable
- Fundacja “Rozwoj TAK – Odkrywki NIE”
- Global Alliance for Incinerator Alternatives
- Global Catholic Climate Movement
- Global Initiative for Economic, Social and Cultural Rights Global
- Justice Ecology Project
- Global Witness
- Grassroots Global Justice Alliance
- Grassroots International
- Great Old Broads for Wilderness
- Green America
- GreenFaith
- Greening Committee of Kehilla Community Synagogue
- Greenpeace USA
- groundWork/Friends of the Earth South Africa
- Grupo de Financiamiento Climático para Latinoamérica y el Caribe
- Harford County Climate Action
- Hawai’i Institute for Human Rights
- Health Care Without Harm
- Hip Hop Caucus
- Historians for Peace and Democracy
- Holy Cross International Justice Office
- Honor the Earth
- Human Being
- Idle No More SF Bay
- iMatter
- Indigenous Environmental Network
- Indigenous Peoples Major Group for Sustainable Develop- ment
- Informed365
- Inland Ocean Coalition
- Institute for Agriculture and Trade Policy
- Institute for Development Policy
- Institute for Policy Studies
- Instituto para el Futuro Común Amerindio
- InterAmerican Clean Energy Institute
- International Indian Treaty Council
- International Rivers
- Just Transition Alliance
- Keeper of the Mountains Foundation
- Kentuckians For The Commonwealth
- Kentucky Resources Council, Inc.
- Kiko Network
- Korea Federation for Environmental Movement
- Lakota People’s Law Project
- LaPlaca and Associates
- Last Real Indians
- Lelewal Foundation
- Les Amis de la Terre
- Little Village Environmental Justice Organization
- Louisiana Bucket Brigade
- Mangrove Action Project
- Manthan Adhyayan Kendra
- Market Forces
- Maryknoll Office for Global Concerns
- Maryknoll Sisters Eastern Region
- Massachusetts Peace Action
- Mazaska Talks
- Mi Villita Community Center
- Midori Law Group
- Minnesota Interfaith Power & Light
- MN350
- Moana Nui Action Alliance
- Mosquito Fleet
- Mothers Out Front
- Mountain Watershed Association Movement Rights
- Mt. Diablo Rising Tide
- N.C. Alliance To Protect Our People And The Places We Live
- Na Koa Ikaika Ka Lahui Hawaii
- National Association of Professional Environmentalists
- Native Organizers Alliance
- Nature Trust-FEE Malta
- Naturvernforbundet/Friends of the Earth Norway
- Neighbor to Neighbor Massachusetts
- New Economy Project
- New York Communities for Change
- No Fracking Tamaulipas
- Non au Gaz de Schiste 83
- Northfield Against Line 3
- Northland Sustainable Solutions
- Not1More
- Ocean First Institute
- Ohio Valley Environmental Coalition
- Oil Change International
- Olympic Climate Action
- Other98
- Our Climate
- Oxford University Climate Justice
- Pacific Environment
- Pacific Indigenous Peoples Coalition
- Paradise Gardens and Farm
- Partenia 2000
- People & Planet
- Physicians for Social Responsibility PA
- Polaris Institute
- Ponca Tribe of Oklahoma
- Poor People’s Campaign
- Portland Rising Tide
- Power Shift Network
- Presente.Org
- Preserve Giles County
- RE Sources for Sustainable Communities
- Re:Common
- Réseau Européen Églises et Libertés
- Rising Hearts
- Rising Tide Chicago
- Rising Tide North America
- Rising Tide Wenatchee
- Rogue Climate
- Rootskeeper
- Rural Integrated Center for Community Empowerment
- Save RGV from LNG
- Schaghticoke First Nations Inc.
- Science for the People
- Seeding Sovereignty
- SF Public Bank Coalition
- ShareAction
- Sherpa
- Sierra Club
- Skyline Church
- Society of Native Nations
- Solar Bear
- Solidarity Houston
- Solidarity Workshop
- Solutions for Our Climate
- South Asia Network on Dams, Rivers & People
- Southern Alliance for Clean Energy
- Southern Illinoisans Against Fracturing Our Environment Southern
- Oregon Climate Action Now
- Stand.earth
- STOP GAZ
- SumOfUs.org
- Sunflower Alliance
- Sunrise Movement Chicago
- Sustainable Energy & Economy Network
- Taru Leading Edge
- Texas Environmental Justice Advocacy Services
- The Alliance for Appalachia
- The Borneo Project
- The FANG Collective
- The Institute of the Black World 21st Century
- The Leap
- The Shalom Center
- The Sunrise Project
- Threshold Foundation
- Tikkun Magazine
- Tinker Tree Play/Care
- Touche pas à mon schiste
- Transition Berkeley
- Transition US
- Treaty Alliance Against Tar Sands Expansion
- UN Sustainable Development Solutions Network
- Unitarian Universalist Association
- Unitarian Universalist Congregation of Binghamton Unitarian Universalist Ministry For Earth
- Unitarian Universalists for a Just Economic Community urgewald
- Valley Watch
- Wasatch Rising Tide
- Wenatchee Interfaith Climate Group
- West Coast Environmental Law Association
- WildEarth Guardians
- Wise Response Society Inc
- Women’s Earth and Climate Action Network
- Young People’s Action Coalition
- ZEROCARBON Energy Development & Information Centre