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Climate Change 2018
BE IT RESOLVED: Shareholders request that JPMorgan Chase prepare a report, omitting proprietary information and prepared at reasonable cost, by September 2018, on the reputational, financial and climate risks associated with project and corporate lending, underwriting, advising and investing for tar sands production and transportation. This report should include assessments of:
- Short- and medium-term risk of portfolio devaluation due to stranding of high cost tar sand assets.
- Whether JPMC’s tar sands financing is consistent with the Paris Agreement’s goal of limiting global temperature increase to “well below 2 degrees Celsius”.
- How tar sands financing aligns with our company’s support for Indigenous People’s rights.
- Reducing risk by establishing a specific policy, similar to that of other banks, restricting financing for tar sands projects and companies.