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# JPMorgan Chase Publishes 2024 Climate Report Introducing Energy Supply Financing Ratio
- URL: https://www.theglobalbanker.com/jpmorgan-chase-2024-climate-report-energy-supply-financing-ratio/
- Published: 2024-11-14T16:00:00.000Z
- Updated: 2026-10-21T23:25:31.000Z
- Description: JPMorgan's November 2024 climate report introduced the Energy Supply Financing Ratio, showing $1.29 of low-carbon energy supply financing per $1 of high-carbon energy supply financing in 2023.
- Author: TGB Editorial Team
- Tags: ESG, Americas, #archive

JPMorgan Chase published its 2024 Climate Report on 14 November 2024, introducing a new Energy Supply Financing Ratio, which compares the bank's financing of low-carbon energy supply with its financing of high-carbon energy supply. The report disclosed that for 2023, 1.29 dollars supported low-carbon energy supply for every dollar supporting high-carbon energy supply under the new ratio.

JPMorgan described the ratio as a disclosure metric that provides more insight into the capital it provides, and said it was not aligning its financing to meet a specific target for the ratio.

#### SUSTAINABLE DEVELOPMENT TARGET

Beyond the financing ratio, the 2024 Climate Report documented JPMorgan's cumulative progress towards its Sustainable Development Target, a commitment to facilitate $2.5 trillion in sustainable financing between 2021 and 2030\. The bank reported that from 2021 to the end of 2023 it had financed and facilitated $242 billion towards the $1 trillion Green objective within that target. The report also showed that approximately $66 billion had been financed and facilitated in 2023 alone, counting towards the bank's $1 trillion Green objective, part of the Sustainable Development Target.

#### SHAREHOLDER ENGAGEMENT

The introduction of the Energy Supply Financing Ratio followed engagement with shareholders, including the New York City Comptroller. 

The report also set out limits of the ratio: it is a disclosure metric, not a mechanism to drive the energy transition, and not a direct proxy for decarbonisation activity in the economy.