Yes, JP Morgan Chase -- the one that’s a lead financier of the Keystone XL and Dakota Access pipelines among others. The same one that the hard-hitting report Banking on Climate Change correctly identified as the largest US-based bank funding climate disaster projects.
So, why is the company collecting awards? Aside from Fortune Magazine’s focus JPMC’s work in Detroit to invest in local businesses, they also gave a lot of credit to the bank for being a leader in the Equator Principles Association.
The Dakota Access Pipeline was financed by JPMC and several other banks signed on to the Equator Principles, even though it was built to pump tar sands, the dirtiest oil on earth, and was fiercely opposed by the Standing Rock Sioux and Cheyenne River Lakota Tribes.
All over the world, Equator banks also continue to finance new coal power plants that will further add to climate disruption.
The October 24 Annual Meeting of the Equator Principles Association in São Paulo, Brazil is a clear opportunity for Equator banks to revisit their Principles and commit to a higher standard. Advocates will be on the ground in Brazil, and local organizers around the world are planning in person events around the same time to turn up the pressure.