JP Morgan Chase to stop lending for Arctic oil

click on the photo to read the full story

The Washington Post reported that JP Morgan Chase will stop lending to companies doing oil exploration or drilling above the Arctic Circle. That would include all companies that work in Alaska’s oil patch.

The decision is due to pressure from climate change organizations and because the bank leadership believes that the Arctic is particularly vulnerable to climate change.

The bank is also phasing out investment in coal, it announced Monday.


View Full Site