Climate

JP Morgan Chase Leads Wall Street In Building The Carbon Bubble

CREDIT:

Wall Street executives like JP Morgan Chase CEO Jamie Dimon have been dubbed “banksters” for their deliberate creation of a real-estate bubble that crippled the global economy. But that collapse is dwarfed by the looming destruction of the global ecosystem by carbon pollution. A new report by BankTrack finds that the world’s top banks, while claiming to be committed to fighting global warming pollution, have pumped $230 billion into the coal industry since 2005. “Low-carbon economy” JP Morgan Chase has financed $22,250,000,000 worth of coal mining and coal-powered electricity projects since 2005.

(HT: Grist)

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