Attention JPMorgan Chase Board Members James Crown and Mellody Hobson, and Chairman & CEO Jamie Dimon:

We hope this email finds you and your loved ones well and healthy. Several of you have previously received communications from community members who are concerned that JPMorgan Chase is the number one funder of extreme fossil fuels in the U.S., and who have urged you to move Chase Bank away from fossil fuel investments.

We are writing today to demand that you agree to meet with climate groups from the Chicago Stop the Money Pipeline Coalition. With Chase Bank’s annual shareholder meeting scheduled for next month, it is important to us that we meet with you beforehand to inform important decisions.

As we mentioned in our previous letter, the Intergovernmental Panel on Climate Change (I.P.C.C.), the most respected group of climate scientists, released a report in 2018 stating that the world has just 12 years to stop burning fossil fuels -- or risk catastrophic and irreparable damage to Earth’s climate, which will cause ecological, humanitarian and economic crises. That has now dwindled to a 10-year window to take meaningful action. As the biggest U.S. bank, Chase Bank can play a huge role in leading us to a more liveable future -- and as a member of the Board of Directors, you have a tremendous opportunity to influence not only the future of this bank, but the future of humanity.

But right now, you are taking JPMorgan Chase in the wrong direction. According to the most recent Banking on Climate Change Report, JPMorgan Chase remains the top funder of extreme fossil fuels in the U.S., and third globally.

It is deeply troubling to us that during the current public health crisis, Chase Bank chose to prioritize, by lending a $1.25 trillion bond to TC Energy, the construction of the dangerous Keystone XL pipeline. In making this decision, Chase Bank disregarded input from customers and community members, as well as the communities in the pipeline’s path. Not only does this decision put pipeline workers at risk of COVID-19, but the pipeline will have detrimental effects on our environment and public health.

We are working to create a just transition away from fossil fuels, build resilient communities that can adapt to climate change, and protect our Great Lakes watershed, and we urge you to use your power and influence to take action on this extremely important issue.

As Chase Bank Board Members and shareholders, we urge you to move Chase to align its funding policies with the current science, priorities of Chase customers, and the public by joining other banks that have responsibly chosen to limit their funding of investments that contribute to climate change. As COVID-19 reveals the vulnerabilities of our society in the face of a global crisis, your action is more important now than ever.

Sincerely,
Rising Tide Chicago