JPMorgan's Departure from Climate Alliance Sends Shockwaves

JPMorgan Chase has decided to withdraw from the Climate Action 100+ investor group, citing the expansion of its in-house sustainability team and climate risk framework. The group, formed to combat global warming, has faced criticism from Republican states and lawmakers who argue that such alliances may infringe on government policymaking and harm domestic energy companies. JPMorgan Chase's departure comes amid increasing pressure on financial institutions over their environmental, social, and governance priorities.