Shareholders of JPMorgan Chase & Co. US:JPM on Tuesday narrowly defeated the call for greater company disclosure around lending activities that affect climate change.
The proposal was one of six resolutions, all opposed by the company, that were defeated by shareholders at the annual meeting. The environmental resolution received a preliminary 48.6% of the votes from investors in the bank that is the leading lender to the oil patch.
Despite the defeat, environmental activists argued that the close call reflected increased interest on the part of shareholders that the bank increasingly recognize the risks associated with accelerating man-made climate change. Globally, losses from climate change are estimated to be between $150 and $790 trillion by 2100, according to some measures. Read Full Article - MarketWatch, May 22, 2020