CLIMATE campaigners targeted JP Morgan’s Glasgow offices over their fossil fuel investments and accused them of “greenwashing”.
Four Scottish Extinction Rebellion (XR) protesters locked onto an oil barrel outside of the bank’s Waterloo Street premises at 7.30am.
The group also had a number of gravestone props that read "COP26 Failed" and "COP26 futile", as well as banners that dubbed JP Morgan the “World’s dirtiest bank”.
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The activists are demanding the global bank ends its funding of oil and gas which is exacerbating the climate crisis.
It comes on the eve of COP27 starting in Sharm el-Sheikh, Egypt, which the protesters say is a failed process. During COP26 in Glasgow, XR activists protested every day at JP Morgan’s Glasgow offices.
As carbon emissions continue to rise to record levels in the past year, the campaigners say JP Morgan have continued their greenwashing, broken pledges and investment in fossil fuel.
From 2016 (when the Paris Agreement was signed) to 2021, JP Morgan has been the world’s largest investor of fossil fuels, investing more than $382 billion.
Antonio Guterres, the secretary general of the United Nations, previously said "Governments should require all multilateral development banks to publish their plans to phase out direct and indirect support for fossil fuels before the COP27 climate summit.”
However, JP Morgan is instead pushing for new oil and gas developments in the United States.
Gary Jack from XR Highlands and Islands said: “Even JP Morgan’s own economists reported in Feb 2020 that the climate crisis threatens the survival of humanity and yet they are still actively promoting continued investments in fossil fuels.
“In fact Jamie Dimon, CEO of JP Morgan wrote to shareholders in 2021 saying that the US needed ‘immediate approval for additional oil leases and gas pipelines’.
“This is ecocide and it is time criminal charges were filed against such destructive corrupt companies and CEOs such as J P Morgan and Jamie Dimon.”
Valerie King from XR Stirling added: “COP27 will be a failure just like COP26. Emissions are rising so much that it’s predicted that instead of a 1.5°C increase in global heating, we are on a path to over 2.5°C. Parts of the world are turning into unlivable disaster zones.
“JP Morgan is one of Big Finance’s worst climate villains benefiting from COP failure and committing ecocide crimes against humanity.
“JP Morgan will happily invest in Putin's war, destroy the Amazon and finance a climate catastrophe just so that very rich bankers can make even more money.”
JP Morgan declined to comment.
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