JPMorgan embarks on $2.5-trillion climate, sustainability effort

Goldman Sachs Group Inc., Citigroup and Bank of America have all set net-zero greenhouse-gas emissions targets in their financing activities.

JPMorgan Chase & Co. set a goal to finance $2.5 trillion in initiatives that combat climate change and advance sustainable development over the next 10 years, while Citigroup Inc. said it would back $1 trillion of similar efforts by 2030.
 
Combined with previous announcements by Bank of America Corp., the three largest U.S. lenders have all committed to backing more projects that advance a low-carbon economy amid calls by the White House for businesses to do more to curb pollution.
 
JPMorgan’s commitment includes $1 trillion for projects that bolster cleaner energy sources, it said Thursday in a statement.