JPMorgan Chase sustainability score: 23/100

JPMorgan publishes detailed Scope 1 (115,294 tCO2e) and Scope 2 data (3,642 market-based; 792,479 location-based) for 2023 with PwC assurance. However, location-based emissions exceed market-based by 218×, revealing heavy unbundled EAC reliance. Operational emissions rose 4.08% YoY; Scope 1 increased 30.2%.

JPMorgan reports ~143M tCO2e Scope 3 financed emissions (2023), primarily Category 15 investments via Carbon Compass methodology across 8 sectors. Only 2 of 15 Scope 3 categories quantified. As world's largest fossil fuel financier ($434B since 2016), the measured footprint is negligible relative to actual chain complexity and impact.

Operational emissions rose 4.08% YoY in 2023. By end 2024, achieved only 14% reduction vs 40% 2030 target, then withdrew target entirely, shifting to cost-based approach. Financed emissions show no absolute decline; intensity targets are inadequate. Aluminum clients' carbon intensity rose 10.4%. Trajectory misaligned with Paris Agreement.

JPMorgan claims 100% renewable electricity via market-based accounting (3,642 tCO2e Scope 2). Location-based Scope 2 remains 792,479 tCO2e, exposing reliance on unbundled EACs. Genuine procurement includes Brookfield hydro PPAs and 57,420 MWh on-site solar by end 2024, but 2024 report omitted renewable energy progress updates.

JPMorgan adopted NDPE policies for palm oil clients and co-published biodiversity-carbon framework aligned to TNFD. However, Global Witness (2025) identified JPMorgan among top US earners from deforesting companies ($5.4B, 2016–2024). Firm finances heavily in palm, pulp, mining, fossil fuels. Exited Equator Principles in 2024. No deforestation-free commitment with third-party verification.

JPMorgan retrofitted LED systems across 4,500 branches and installed building management systems for energy/water reduction. New NYC headquarters is all-electric. However, no quantified waste data, circularity targets, or comprehensive resource metrics published across 6,500+ global locations, limiting credibility of disclosed improvements.

JPMorgan publishes no operational water consumption or discharge data. Direct water footprint from offices is relatively low, but 6,500+ sites and data centres have cumulative impact. Building management systems target 20% irrigation reduction. Published water research concerns client advisory, not own operations. Financed water impacts unassessed.

JPMorgan has no SBTi commitment and withdrew 40% by 2030 operational target in October 2024, shifting to vague cost-effectiveness criteria. Exited NZBA (January 2025) and Climate Action 100+ (February 2024). Financed targets are intensity-only across 8 sectors. CEO downgraded 'commitments' to 'aspirations' (April 2024). Carbon offsets totaling $200M+ do not substitute for reduction-first strategy.

JPMorgan publishes annual Sustainability and Climate Reports with TCFD alignment and third-party limited assurance on operational emissions. Governance includes Board oversight. Carbon Compass provides financed emissions transparency. However, 2024 report issued without press release, omitted renewable energy progress, and withdrew targets without public explanation. Lobbying disclosure limited.

JPMorgan is world's largest fossil fuel financier ($434B post-Paris). Withdrew from NZBA, Climate Action 100+, and Equator Principles while abandoning own 2030 target. InfluenceMap notes skepticism of stringent climate regulation; member of US Chamber opposing climate policy. Global Witness identifies firm among top deforesting-company financiers. US Senators formally criticised 2024 reversal.