Financial institutions play a central role in setting the course of climate action, underwriting clean energy projects around the globe. They also help determine which fossil fuel projects continue to be built. This central role has placed financial institutions in the middle of the culture wars. Depending on whom you ask, these big banks and asset managers are either engaged in a form of green wokeism, placing environmental concerns ahead of returns, or callously abandoning their climate commitments in pursuit of a quick profit. [time-brightcove not-tgx=”true”] This year’s letters to shareholders from JP Morgan Chase CEO Jamie Dimon and BlackRock CEO Larry Fink show how big financial institutions are trying to manage the challenge.
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Justin Worland, Time: Business
Sat, 04/20/2024 - 12:06pm
Topics: jp morgan chase ceo jamie dimon blackrock ceo larry fink dimon&rsquo april march both dimon russia&rsquo ukraine biden it&rsquo blackrock&rsquo climate finance partnership both fink esg at fink&mdash ceo dimon fink pragmatism energy gas financial clean infrastructure opportunities fossil projects growth institutions embrace meet central letters firms transition traditional coal returns culture big market role billion fuel ldquo;realpolitik&rdquo letter approach ldquo;energy investments continued shareholders fuels show sector cites targets natural
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