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Last update: 2018-04-23 16:25:19
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About
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JP Morgan Chase head office in New York. Photo: official-ly cool via Wikimedia Commons (CC BY-SA 3.0)JPMorgan Chase is one of the Big Four Banks of the United States (along with Bank of America, Citigroup and Wells Fargo). The firm was formed in 2000 when Chase Manhattan Corporation acquired J.P. Morgan & Co and is headquartered in New York City. JPMorgan Chase operates in more than 60 countries. The firm is a market leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity.
| Headquarters |
270 Park Avenue
10017-2070 New York
United States
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| Supervisor | |
| CEO/chair |
Jamie Dimon CEO & Chairman |
| Annual report | Annual Report 2017 |
| Website | http://www.jpmorganchase.com |
| Ownership |
listed on London Stock Exchange, NYSE Euronext & Tokyo Stock Exchange
The majority of JPMorgan's shares are held by institutional investors. The public owns 23%. |
Related Dodgy Deals
JPMorgan Chase has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal.
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Projects
Active
Annova LNG Terminal United States
Active
Atlantic Coast Pipeline United States
Active
Belo Monte dam Brazil
Active
Cirebon 2 coal power plant Indonesia
Active
Keystone XL pipeline United States
Active
Kusile coal power plant South Africa
Active
Line 3 Pipeline Replacement Project (L3RP) Canada
Active
Long Phu I coal power plant Vietnam
Active
Medupi coal power plant South Africa
Active
Mountain Valley Pipeline United States
Active
Trans Mountain Pipeline Expansion project (TMEP) Canada
There are no projects active for JPMorgan Chase now.
On record
Bauxite mine Niyamgiri Hills India
On record
Block 31, Yasuni National Park Ecuador
On record
Canadian tar sands Canada
On record
Dominion Cove Point LNG United States
On record
Dynegy coal power plants United States
On record
Grasberg gold and copper mine Indonesia
On record
Jaitapur nuclear power plant India
On record
Kaltim Prima Coal mine Indonesia
On record
Mountain top removal coal mining United States
On record
Offshore Detention Centres Australia
On record
Patents on chimpanzees and other animals - international -
On record
POSCO integrated steel project India
On record
Tamar Valley Pulp Mill Tasmania (formerly Gunns Pulp Mill) Australia
On record
Toka Tindung gold mine Indonesia
On record
Woodlark Island Kula Gold Project Papua New Guinea
On record
Woodside Petroleum’s gas refinery Australia
Companies
Active
En+ Group Russian Federation
Active
Energa Group Poland
Active
IOI Corporation Malaysia
Active
Trafigura Singapore
Active
TransCanada Corporation Canada
Active
Vitol Switzerland
There are no companies active for JPMorgan Chase now.
On record
Alliant Techsystems United States
On record
Alpha Natural Resources United States
On record
Anglo American United Kingdom
On record
Arch Coal United States
On record
Areva France
On record
BHP Billiton Australia
On record
Bumi Resources Indonesia
On record
Coal of Africa Australia
On record
DTEK Ukraine
On record
EDF France
On record
Elbit Systems Israel
On record
ENGIE France
On record
EPH Czech Republic
On record
ESKOM South Africa
On record
Felda Global Ventures Holdings Bhd Malaysia
On record
Glencore Switzerland
On record
Jindal Steel & Power India
On record
Kuala Lumpur Kepong Malaysia
On record
Lockheed Martin United States
On record
National Thermal Power Corporation (NTPC) India
On record
Rio Tinto Australia
On record
Royal Dutch Shell Netherlands
On record
RWE Germany
On record
Sappi South Africa
On record
Shenhua Group China
On record
Textron United States
On record
Vale Brazil
On record
Vattenfall Sweden
On record
Vedanta Resources United Kingdom
On record
Veolia Environment France
On record
Wilmar Group Singapore
On record
ZE PAK (Zespół Elektrowni Pątnów-Adamów-Konin) Poland
Dodgy Deals map
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Policies
Voluntary initiatives
JPMorgan Chase has committed itself to the following voluntary standards:- Business Environmental Leadership Council (BELC)
- Carbon Principles
- Equator Principles
- Extractive Industries Transparency Initiative
- Global Reporting Initiative
- Green Bond Principles
- International Hydropower Association
- Principles for Responsible Investment
- RSPO Principles and Criteria for Sustainable Palm Oil Production
- Soft Commodities Compact
- UN Guiding Principles on Business and Human Rights
- UNEP Finance Initiative
- Wolfsberg Principles
- World Business Council for Sustainable Development
Investment policies
JPMorgan Chase's ESG information page is available here. The bank's policies are contained in its Environmental and Social Policy Framework.
Issues
JPMorgan Chase and the Equator Principles
The Equator Principles are a voluntary commitment of banks to try to avoid or minimise the social, environmental and human rights impact of projects they finance. For more information on the Equator Principles see their website here and the campaign page of BankTrack here.
The Equator Principles exist already since 2003. JPMorgan Chase adopted the Equator Principles in 2006.
Reporting on the Equator Principles
JPMorgan Chase must report annually on its implementation of the Equator Principles. All information is supposed to be found here.
- JPMorgan Chase is in compliance with its reporting obligations. The 2016 report can be found here.
Dodgy Deals
JPMorgan Chase is involved in financing the following Equator Principles projects that BankTrack considers controversial.
Active
Belo Monte dam Brazil
Active
Cirebon 2 coal power plant Indonesia
Active
Trans Mountain Pipeline Expansion project (TMEP) Canada
On record
Block 31, Yasuni National Park Ecuador
On record
Tamar Valley Pulp Mill Tasmania (formerly Gunns Pulp Mill) Australia
On record
Toka Tindung gold mine Indonesia
On record
Woodlark Island Kula Gold Project Papua New Guinea
On record
Woodside Petroleum’s gas refinery Australia
Human rights
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True leader
Front runner
Follower
Laggard
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BankTrack has assessed JPMorgan Chase on its implementation of the UN Guiding Principles on Business and Human Rights in June 2016. JPMorgan Chase is assessed as a Laggard, with a total score of 0.5/12.
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Equator Principles
Implementation and reporting
JPMorgan Chase is reporting on the implementation here.
Contact and complaints
Equator Principles Dodgy Deals
Projects
Active
Belo Monte dam Brazil
Active
Cirebon 2 coal power plant Indonesia
Active
Trans Mountain Pipeline Expansion project (TMEP) Canada
On record
Block 31, Yasuni National Park Ecuador
On record
Tamar Valley Pulp Mill Tasmania (formerly Gunns Pulp Mill) Australia
On record
Toka Tindung gold mine Indonesia
On record
Woodlark Island Kula Gold Project Papua New Guinea
On record
Woodside Petroleum’s gas refinery Australia
Good moves
Year:
2017
Thun Group banks revise human rights paper following BankTrack demands
In February, BankTrack coordinated and sent an open letter to the 11 banks that signed a Discussion Paper by the Thun Group, calling for the paper's withdrawal. The paper took as its starting point that banks do not contribute to human rights abuses through their finance, flying in the face of UN advice on banks’ human rights responsibilities. The concerns raised in the letter were quickly echoed by others, and following further discussions the paper was revised in December, partially addressing the concerns.
2014
Breakthrough: JPMorgan Chase Dropping Mountain Destruction
After more than five year of campaign by Rainforest Action Network demanding that JPMorgan Chase and other banks drop MTR financing, in mid April 2014, JPMorgan Chase updated its environmental policy, revealing that it will be ending financial relationships with Mountaintop Removal coal mining companies. RAN will remain vigilant to ensure JPMorgan Chase stays on the path away from MTR.
More US and European Banks step back from Mountaintop Removal
In 2013, BNP Paribas pledged to cut financing for top producers of mountaintop removal coal. In spring 2014, JPMorgan Chase updated its environmental policy committing to aggressively reduce its financing relationships with mountaintop removal coal mining companies. And in April 2014, Royal Bank of Scotland followed suit, updating their environmental policies to prohibit financing to companies who are "significant producers of coal using mountaintop removal (MTR) mining in Appalachia."
2011
Wall Street turns its back on Mountaintop Removal coal mining
After sustained campaigning by RAN, eight of Wall Street's biggest banks have developed public policies limiting their appetite for investment in mountaintop removal (MTR) coal mining. By 2011, MTR policies or statements had been released by banks including Credit Suisse, JP Morgan Chase, Morgan Stanley and Wells Fargo, PNC bank and UBS. The policies were assessed by RAN in the 2011 MTR report card. RAN and others continue to scrutinize implementation of these policies.