For Immediate Release

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Lindsay Meiman
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lindsay@350.org

350.Org on Former Exxon CEO Lee Raymond Quitting Jpmorgan Board

"A sign of the changing winds of financial institutions taking climate action seriously."

WASHINGTON - Putting a feather in the cap of fossil fuel’s downfall in 2020, JPMorgan Chase & Co announced today that former ExxonMobil CEO Lee Raymond is quitting its board of directors after over three decades in the post. During his tenure as Exxon CEO, Raymond spearheaded the corporation’s efforts to bury climate science and sow doubt and deception about fossil fuels causing climate disasters.

On this news, Richard Brooks, 350.org Senior Campaign Strategist, said:

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“Climate denier mastermind and former Exxon CEO Lee Raymond fleeing the JPMorgan Chase Board is a sign of the changing winds of financial institutions taking climate action seriously. Make no mistake, Raymond quitting is a direct result of pressure from shareholder champions like New York City Comptroller Scott Stringer and climate activists with the Stop The Money Pipeline coalition. While JPMorgan Chase remains the world's largest fossil fuel financier, with Raymond no longer holding them back, Chase must overhaul its coal, oil and gas funding.”

This comes just over a week after the $226 billion New York State Common Retirement Fund shook the financial world by announcing its decision to divest from risky fossil fuel companies and 2025 and decarbonize by 2040.

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350 is the red line for human beings, the most important number on the planet. The most recent science tells us that unless we can reduce the amount of carbon dioxide in the atmosphere to 350 parts per million, we will cause huge and irreversible damage to the earth. But solutions exist. All around the world, a movement is building to take on the climate crisis, to get humanity out of the danger zone and below 350. This movement is massive, it is diverse, and it is visionary. We are activists, scholars, and scientists. We are leaders in our businesses, our churches, our governments, and our schools. We are clean energy advocates, forward-thinking politicians, and fearless revolutionaries. And we are united around the world, driven to make our planet livable for all who come after us.

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