JPMorgan Chase updated its sustainability targets last week, moving interim carbon intensity goals from 2030 to 2035 and aligning them with the IEA's 2025 net-zero pathway. The bank also broadened its green financing criteria to include low-carbon energy financing, which now covers grid and nuclear projects, alongside low-carbon energy at diversified power companies. It reported $1.2 trillion mobilized toward its $2.5 trillion sustainable development goal since 2021, or 49% of the target, with $217 billion added in 2025 alone. The bank's global head of sustainability said finance is often not the binding constraint on clean energy projects, pointing instead to permitting, interconnection, workforce gaps, and supply chain issues. JPMorgan also launched a new Center for Energy and the Environment to focus on rising electricity demand from AI, electrification, and broader economic growth. The report shows progress on operational emissions, with scope 1 down 8.8% and location-based scope 2 down 7.7% year over year, but aluminum portfolio carbon intensity is up 19.5% from its revised baseline.
