Independent news has never been so important.

Did you know that you can get Democracy Now! delivered to your inbox every day? Sign up for our Daily News Digest today! Don't worry, we'll never share or sell your information.

JPMorgan to Stop Funding Arctic Drilling, Will Continue to Fund Oil and Gas Projects Elsewhere

HeadlineFeb 25, 2020

JPMorgan Chase announced Monday it will stop providing financial services to companies pursuing oil and gas exploitation in the Arctic and phase out loans to the coal industry. JPMorgan will, however, still finance oil and gas projects outside of the Arctic region. The announcement comes just days after a leaked report by JPMorgan warned the planet is facing irreversible damage due to the worsening climate crisis. The bank is one of the biggest financial backers of the fossil fuel industry and other leading polluters.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation