Protecting nature: Pedestrians go past the JP Morgan Chase headquarters in New York. The bank is looking into imposing a biodiversity lens on existing product structures such as loans, bonds and portfolio strategies. — AFP
NEW YORK: JPMorgan Chase & Co is cautioning against inaction after a summit intended to steer more private finance toward protecting biodiversity ended in limbo.
Instead of putting plans on hold, Wall Street’s biggest bank said it now intends to step up work on designing products for clients interested in exploring the risks and opportunities around the theme of biodiversity. And only products deemed financially viable will make the cut, said Gwen Yu, JPMorgan’s head of nature and biodiversity.
