In signing the pledge, JPMorgan joins a group that already counts fellow Wall Street titans Citi and Morgan Stanley as members.
However, JPMorgan, the U.S.’s largest bank, held out on joining the initiative for several months. The program launched in April with 43 member banks and has grown to encompass 61 institutions across 30 countries, counting $39 trillion in assets. Together, the signatories account for one-quarter of all global banking assets.
JPMorgan is the top arranger of bonds for fossil-fuel companies, but also is the foremost underwriter of green bonds, according to Bloomberg.
