JPMorgan Asset Management has become the latest firm to leave the Climate Action 100+ group.

As reported by the Financial Times, JPMAM is the latest financial institution to leave the group following pressure from the US on funds that may be against fossil fuel production. A spokesperson for JPMAM told the Financial Times the firm has made a “significant investment….in the development of its own climate risk engagement framework over the past couple of years. Given these strengths and the evolution of its own stewardship capabilities, JPMAM has determined that it will no longer participate in Climate Action 100+ engagements.”

Climate Action 100+ has said only 13 firms have left the organisation since it launched and about 60 have joined since June 2023.

END