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JPMORGAN TO STOP LENDING TO COAL FIRMS
Shared from the 2/26/2020 The Denver Post eEdition
NEW YORK » JPMorgan Chase & Co. will no longer do business with coal companies and will restrict financing to companies that drill in the Arctic, the company announced Tuesday.
The announcement came in tandem with the bank announcing that it would extend $200 billion in financing to clean and renewable energy companies by 2025. The bank is holding its annual investor meetings in San Francisco, where the announcement was made.
JPMorgan still provides some loans to coal companies, but plans to phase those out by 2024.
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