JPMorgan Chase Will Halt Financing of Arctic Oil, Gas Drilling, Coal Plants

In a major win for environmental organizations and Indigenous groups, JPMorgan Chase on Tuesday announced that it will not finance oil and gas extraction in the Arctic National Wildlife Refuge, nor will it continue financing many coal-related enterprises, including thermal coal mines and coal-fired power plants across the world. While applauding Chase’s Tuesday announcement, environmentalists were also careful to note that the new policy falls short of the climate movement’s broader demands for a complete halt to new fossil fuel investing.

By Garet Bleir. Sierra—The national magazine of the Sierra Club. February 23, 2020.

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