JPMorgan rejects transition finance trend

Carbon conundrum: JPMorgan’s New York headquarters. The company is rejecting the transition finance trend believing that the approach ignores the fact that investors are less concerned with definitions and more interested in proof. — Reuters

NEW YORK: JPMorgan Chase & Co is turning its back on a trend that’s been embraced by many of its Wall Street peers.

Transition finance – a term intended to describe the allocation of capital to activities that will ultimately help cut carbon emissions in the wider economy – exists in something of a regulatory grey zone.