ucs-jpmorgan-chase-sign-on-letter-april-2023-updated-5b4165886c3578ad.pdf

The document is a formal appeal to JPMorgan Chase shareholders to vote in favor of a resolution that would stop the bank from financing fossil fuel expansion. The signatories argue that continuing to fund new oil, gas, and coal infrastructure is inconsistent with the global scientific consensus required to limit warming to 1.5°C and contributes to environmental injustice and economic risk.

• The signatories advocate for a "no expansion" framework, which would prohibit JPMorgan Chase from providing loans, bonds, or underwriting for new or expanded coal mines, coal-fired power plants, oil and gas reserves, pipelines, LNG terminals, gas-fired power plants, and refineries.
• The letter claims that JPMorgan Chase has provided over $382 billion in financing to fossil fuel companies since the 2015 Paris Agreement, with $65.44 billion going to the top 20 companies most engaged in fossil fuel expansion.
• The authors cite a global scientific consensus that the planet will likely exceed 1.5°C of warming within 10-15 years without transformative action, increasing the risk of irreversible climate tipping points.
• The document argues that climate change creates systemic economic risks that are currently not priced into market decisions, including loss of wages due to extreme heat and erosion of tax bases from sea level rise.
• The signatories state that fossil fuel expansion contributes to human rights abuses, environmental injustice, and violations of Indigenous Peoples' sovereignty, disproportionately affecting marginalized communities.
• The letter emphasizes that a "no expansion" policy does not require an immediate shutdown of all fossil fuels, but rather a transition that supports workers and communities.

APA

Union of Concerned Scientists (2023). ucs-jpmorgan-chase-sign-on-letter-april-2023-updated-5b4165886c3578ad.pdf. https://ucs-documents.s3.amazonaws.com/clean-energy/UCS-JPMorgan-Chase-Sign-on-Letter-April-2023-Updated.pdf

Chicago

Union of Concerned Scientists. ucs-jpmorgan-chase-sign-on-letter-april-2023-updated-5b4165886c3578ad.pdf. 2023. https://ucs-documents.s3.amazonaws.com/clean-energy/UCS-JPMorgan-Chase-Sign-on-Letter-April-2023-Updated.pdf.

Wikipedia

{{cite press release |author=Union of Concerned Scientists |title=ucs-jpmorgan-chase-sign-on-letter-april-2023-updated-5b4165886c3578ad.pdf |date=10 April 2023 |url=https://ucs-documents.s3.amazonaws.com/clean-energy/UCS-JPMorgan-Chase-Sign-on-Letter-April-2023-Updated.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{unionofconcernedscientists2023ucsjpmorganchasesignonletterapril2023updated5b4165886c3578adpdf, author = {{Union of Concerned Scientists}}, title = {{ucs-jpmorgan-chase-sign-on-letter-april-2023-updated-5b4165886c3578ad.pdf}}, publisher = {Union of Concerned Scientists}, year = {2023}, month = apr, url = {https://ucs-documents.s3.amazonaws.com/clean-energy/UCS-JPMorgan-Chase-Sign-on-Letter-April-2023-Updated.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }