Climate Lobbying Overview: JP Morgan & Chase Company (JP Morgan) appears to have limited engagement with climate change policy. The company has offered some top-line support for climate policy while taking other positions that support the maintenance of a high GHG emissions energy mix.

Top-Line Messaging on Climate Policy: In its 2021 Environmental and Social Policy Framework, JPMorgan clearly accepts the science of climate change. In a 2021 Center for Climate and Energy Solutions joint letter, it supported national policies to combat climate change in the US and advocated for the US reentry into the Paris Agreement. In 2021, JP Morgan Asset Management joined the Net Zero Asset Managers Initiative, stating support for limiting warming to 1.5C. JPMorgan has also stated support for government intervention to make sure carbon is priced into the economy, and in the company's 2021 Annual Report, CEO Jamie Dimon called on governments to enact “thoughtful policies” to address climate change.

Engagement with Climate-Related Regulations: JP Morgan appears to disclose positions on a limited number of specific climate policies. The company has, on multiple occasions, stated support for a carbon tax. In its 2020 Annual Report JPMorgan detailed its support for a carbon tax framework in the United States through the Climate Leadership Council. In November 2021, The Guardian reported that a company spokesperson had stated support for a carbon tax. CEO Jamie Dimon reiterated this support in the 2021 Annual Report. In its 2022 Climate Report, JPMorgan appears to support the EPA’s methane emissions reductions standards for the oil and gas sector.

Positioning on Energy Transition: Although JP Morgan appeared to support the transition to a low-carbon economy in an April 2021 company news release, the company has opposed transitioning the energy mix away from fossil fuels. In March 2022, CEO Jamie Dimon reportedly advocated for a new “Marshall Plan” to boost domestic production of oil and gas in a meeting with President Biden. In November of 2021, The Guardian reported that a company spokesperson stated “the solution is not as simple as walking away from fossil fuels.” Mother Jones reported in April 2021 that JP Morgan advocated for policymakers to provide financial support to the oil and gas industry during the COVID-19 pandemic. The company stated that “the world will need to continue to use fossil fuels for the foreseeable future” in its 2021 Environmental and Social Policy Framework. In its 2020 ESG Report, JP Morgan stated that “currently there are not adequate, commercially available low carbon energy solutions for all of the world’s energy needs” and “industries that produce and consume these resources cannot be abandoned completely.”

InfluenceMap obtained documents that show that representatives of JPMorgan discussed the US Inflation Reduction Act (IRA) and the European Green Deal in a December 2022 meeting with the Cabinet of Executive Vice-President of the European Commission, but details of this discussion are unclear. In remarks at a February 2023 event, JPMorgan representatives and CEO Jamie Dimon appeared supportive of the IRA.

Industry Association Governance: JP Morgan discloses memberships to multiple industry associations on its 2021 Political Engagement Report, but does not provide any details of climate policy positions of these groups, and omits memberships to non-US associations including the Business Council of Australia and Business Leadership South Africa. JPMorgan provides no industry association disclosure in its 2022 CDP Response. JPMorgan is a member of the US Chamber of Commerce and CEO Jamie Dimon sits on the board of the Business Roundtable. JP Morgan has not published a review of its alignment with its industry associations.