Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

For Immediate Release

Contact

Christopher Herrara, christopher@ran.org, 510-290-5282

Gabby Brown, gabby.brown@sierraclub.org, 914-261-4626

Press Release

JPMorgan Chase Faces Unprecedented Vote Against Its Financing of Fossil Fuels

WASHINGTON -

Today, at the bank’s virtual annual shareholder meeting, JPMorgan Chase, the world’s worst funder of climate change, faced multiple questions on climate change as well as pressure to remove climate change denier and former Exxon CEO Lee Raymond from its board. 49.6% of shareholders voted to require Chase to produce a plan to align its business with the goals of the Paris Agreement. And, in a strong rebuke to Jamie Dimon’s leadership, 41.7% voted to split the roles of board chair and CEO.

Reactions to the votes at Tuesday’s JPMorgan Chase Annual General Meeting:

“This shareholders’ revolt against Jamie Dimon’s failed record on climate change shows that JPMorgan Chase’s days of acting as the house bank of the fossil fuel industry will have to end. The unprecedented share of the votes against management, and the fact that JPMorgan had to demote climate denier Lee Raymond from his board leadership role, shows that investors agree with activists that business as usual in financing fossil fuels is no longer acceptable.”— Patrick McCully, Climate & Energy Program Director, Rainforest Action Network

"The days when Chase could quietly funnel money into the fossil fuel industry without the public taking notice are over. The pressure Chase faced on climate at today’s meeting and the votes showing unprecedented support for climate accountability are proof that the movement to push Chase and other big banks to clean up their act on climate is only gaining momentum and power. This is only the beginning, and we’ll continue to demand meaningful changes to align Chase's investments with a climate-safe future."—Ben Cushing, Campaign Representative, Sierra Club

“While demoting climate-denying Lee Raymond as lead independent director after 19 years is a start, this is just the tip of the melting iceberg of what needs to happen at JPMorgan Chase. The future is not in financing risky, bankrupt prone fossil fuel companies wrecking our climate. It is in investing in community driven climate solutions. The climate related shareholder votes signal it's time for an overhaul at JPMorgan and we aren’t going to stop until we achieve that.”—Richard Brooks, Senior Strategist, 350.org

“My family lost everything in superstorm Sandy, which was supercharged by climate change, which JP Morgan Chase has helped cause by financing fossil fuels. Climate denier Lee Raymond already got demoted but it’s clear it’s time for the bank to boot him off the board entirely and stop financing climate destruction."—Rachel Rivera, Hurricane Sandy survivor, Member, New York Communities for Change

###

The Sierra Club is the most enduring and influential grassroots environmental organization in the United States. We amplify the power of our 3.8 million members and supporters to defend everyone’s right to a healthy world.

Sanders Calls John Deere Threat to Take Away Striking Workers' Health Coverage 'Beyond Outrageous'

"Workers must be allowed to keep their healthcare during the strike," said the Vermont senator.

Julia Conley ·


'He Isn’t Negotiating, He Is Killing the Bill': Ilhan Omar Slams Joe Manchin

"Thanks to the butchering of Manchin, Sinema, and the greed of their corporate lobbyists," said one critic, the Democrats' Build Back Better plan has been slashed down to just $1.9 trillion in spending.

Jon Queally ·


'Stop Line 5': Valve Turner Forces Shutdown of Enbridge Oil Pipeline in Michigan

"We are here to protect the water, land, and air that support all life, including our own. Line 5 poses an immediate threat to our lives and these actions are taken out of necessity and in self-defense."

Jessica Corbett ·


'Delay Is the New Denial': Study Confirms 99.9% of Scientists Agree on Climate

"It's pretty much case closed for any meaningful public conversation about the reality of human-caused climate change."

Brett Wilkins ·


Exposed: How Pfizer Exploits Secretive Vaccine Contracts to Strong-Arm Governments

"Pfizer has used its monopoly on a lifesaving vaccine to extract concessions from desperate governments," said the report's author, urging action from the Biden administration.

Jessica Corbett ·

Support our work.

We are independent, non-profit, advertising-free and 100% reader supported.

Subscribe to our newsletter.

Quality journalism. Progressive values.
Direct to your inbox.

Subscribe to our Newsletter.


Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit | Privacy Policy
Common Dreams Logo