Geography
United States of America
Sector
Market cap (Group)
large
ISIN
US46625H1005
SEDOL
2190385

Carbon Performance Alignment Matrix

To view Carbon Performance pathway, access the chart by clicking the arrow available next to each sector.

Carbon performance of JP Morgan

The sectoral means are computed from the company data in TPI’s Carbon Performance Assessments.

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46FF46B8-A5E5-4562-98A4-D1CE65A4E5F6 Created with sketchtool. All banks max score
Area 1

Net zero commitment

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ALL BANKS AVERAGE
29.8%
46FF46B8-A5E5-4562-98A4-D1CE65A4E5F6 Created with sketchtool.
ALL BANKS MAX SCORE
100%
0%

1.1: Has the bank committed to achieving net zero financed and facilitated emissions by 2050 or sooner, consistent with a 1.5°C scenario?

0%
a. Has the bank committed to achieving net zero financed and facilitated emissions by 2050 or sooner, consistent with a 1.5°C scenario?
b. Has the bank disclosed what on- and off-balance sheet activities OR what proportion of total financed/ facilitated emissions are covered by its net zero commitment? (conditional on scoring 'Yes' on sub-indicator 1.1a)
c. Does the bank’s net-zero emissions commitment cover all material on- and off-balance sheet activities OR explicitly commit to doing so once methodologies are developed? (conditional on scoring 'Yes' on sub-indicator 1.1a)
d. If the coverage is incomplete, has the bank disclosed how it will expand its commitment and over what timeframe? (conditional on scoring 'No' on sub-indicator 1.1c)
Area 2

Target methodology

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ALL BANKS AVERAGE
25.6%
46FF46B8-A5E5-4562-98A4-D1CE65A4E5F6 Created with sketchtool.
ALL BANKS MAX SCORE
42%
25%

2.1: Has the bank set short-, medium- and long-term targets for reducing its financed and facilitated emissions, consistent with a 1.5°C pathway?

33%
a. Has the bank set a short-term target(s) for reducing its material financed/facilitated emissions (within the next three years)?
b. Has the bank set a medium-term target(s) for reducing its material financed/facilitated emissions between 2027 and 2035?
c. Has the bank set a long-term target(s) for reducing its material financed and facilitated emissions between 2036 and 2050?

2.2: Has the bank comprehensively disclosed its target-setting methodology?

17%
a. Has the bank disclosed its financed/facilitated emissions targets on both an absolute and intensity basis?
b. Has the bank disclosed the materiality test that informed the on- and off-balance sheet activities and high-emission sectors included in the scope of its targets?
c. Has the bank disclosed the proportion (%) of bank-wide revenues covered by its targets?
d. Has the bank disclosed the proportion (%) of financed and facilitated emissions covered by its targets?
e. Has the bank disclosed a commitment to cover all material on- and off-balance sheet activities and high-emission sectors once externally recognised methodologies (e.g., PCAF) are developed?
Area 3

Exposure and emissions disclosure

46FF46B8-A5E5-4562-98A4-D1CE65A4E5F6 Created with sketchtool.
ALL BANKS AVERAGE
37.2%
46FF46B8-A5E5-4562-98A4-D1CE65A4E5F6 Created with sketchtool.
ALL BANKS MAX SCORE
70%
37%

3.1: Has the bank disclosed its exposure to high-emission sectors?

50%
a. Has the bank disclosed the amount (in millions of US dollars [$m]) AND share (%) of its credit exposure to all high-emission sectors?
b. Has the bank disclosed the amount ($m) AND share (%) of its financial exposure to all high-emission sectors covering all material on- and off-balance sheet activities?

3.2: Has the bank disclosed absolute emissions from all material on- and off-balance sheet activities?

0%
a. Has the bank disclosed financed/facilitated absolute emissions?
b. Has the bank disclosed financed/facilitated absolute emissions for all high-emission sectors?
c. Has the bank disclosed financed/facilitated absolute emissions for all material on- and off-balance sheet activities?

3.3: Has the bank disclosed emissions intensities from all material on- and off-balance sheet activities?

33%
a. Has the bank disclosed financed/facilitated emissions intensities?
b. Has the bank disclosed financed/facilitated emissions intensities for all high-emission sectors?
c. Has the bank disclosed financed/facilitated emissions intensities for all material on- and off-balance sheet activities?

3.4: Has the bank disclosed the methodology used to quantify financed/facilitated emissions?

50%
a. Has the bank disclosed the methods, assumptions, and variables used to quantify financed/facilitated emissions?
b. Has the bank used and disclosed results from PCAF’s data quality scoring methodology to assess the quality of underlying client emissions data?

3.5: Has the bank disclosed its approach to client-purchased offsets?

50%
a. Has the bank disclosed the contribution of client-purchased offsets in the accounting of its financed/facilitated emissions?
b. Has the bank excluded client-purchased offsets toward meeting its financed/facilitated emissions targets?
Area 4

Historical emissions performance (placeholder indicator)

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ALL BANKS AVERAGE
0%
46FF46B8-A5E5-4562-98A4-D1CE65A4E5F6 Created with sketchtool.
ALL BANKS MAX SCORE
0%
N/A
Placeholder for next year's addition – CA100+ piloting this indicator in Benchmark v2.0 and data currently unavailable to assess across banks.

4.1: Has the bank disclosed its annual progress against its emissions reduction targets?

N/A
Area 5

Decarbonisation strategy

46FF46B8-A5E5-4562-98A4-D1CE65A4E5F6 Created with sketchtool.
ALL BANKS AVERAGE
10.4%
46FF46B8-A5E5-4562-98A4-D1CE65A4E5F6 Created with sketchtool.
ALL BANKS MAX SCORE
36%
6%

5.1: Financing conditions and revenue alignment

5.1.1: Has the bank set financing conditions for high-emitting sectors linked to a 1.5°C pathway?

0%
a. Has the bank set financing conditions and/or covenants to incentivise the transition of high-emission sector companies?
b. Has the bank disclosed actions taken to ensure that financing conditions and/or covenants are enforced (e.g., developing watch list, suspending loan disbursement, risk-weighted pricing incentives)? (conditional on scoring 'Yes' on sub-indicator 5.1.1a)
c. Do the bank's conditions and/or covenants apply to all high-emission sectors? (conditional on scoring 'Yes' on sub-indicator 5.1.1a)
d. Has the bank established climate provisions in deal and transaction terms to ensure high-emitting asset transfers (e.g., from M&A advisory, capital market facilitations) are compliant with a 1.5°C scenario?

5.1.2: Has the bank set a target to increase its revenue derived from 1.5°C-aligned assets?

0%
a. Has the bank set a target to increase the share of financing/facilitation provisioned to high-emitting companies that is subject to decarbonisation-linked conditions?
b. Has the bank set a group-wide target to increase the share of revenue derived from 1.5°C-aligned companies (TPI Centre or Science-Based Targets initiative [SBTi])?

5.1.3: Do the bank's asset management and/or wealth management divisions disclosed its strategy to increase portfolio alignment?

0%
a. Has the bank’s asset management division disclosed a criteria-based escalation policy for voting and engagement with non-aligned assets?
b. Has the bank’s asset management division disclosed a portfolio coverage goal to increase the percentage of assets under management (AUM) invested in 1.5°C-aligned assets?
c. Has the bank’s asset management division disclosed the percentage of AUM invested in 1.5°C-aligned assets?

5.2: Capital allocation to misaligned activities

5.2.1: Has the bank set and disclosed explicit criteria for withdrawal of financing from misaligned fossil fuel activities?

0%
a. Has the bank committed to end all on- and off-balance sheet activities that finance new coal capacity (mining and power) immediately?
b. Has the bank committed to phase out all on- and off-balance sheet activities that finance unabated thermal coal (mining and power) on a timeline compatible with a 1.5°C-aligned pathway (i.e. by 2030 in OECD countries and by 2040 in the rest of the world)?
c. Has the bank committed to end all project financing dedicated to the exploration and development of new oil and gas fields?
d. Has the bank committed to end all on- and off-balance sheet activities dedicated to the exploration and development of new oil and gas fields misaligned with a 1.5°C pathway?
e. Does the bank’s oil and gas policy include an exclusion threshold for investees with oil and gas expansion plans or with operations in unconventional oil and gas?

5.2.2: Has the bank set and disclosed explicit criteria for withdrawal of financing from misaligned land conversion activities?

33%
a. Has the bank disclosed an overarching commitment to end all on- and off-balance sheet activities that finance deforestation no later than 2025?
b. Has the bank disclosed a commodity-specific deforestation policy for all high forest-risk commodities OR explicitly state its overarching commitment covers specific commodity supply chains?
c. c. Has the bank committed to end all on- and off-balance sheet activities that finance land conversion of other natural ecosystems including natural savannahs, grasslands, peatlands and wetlands no later than 2025?

5.3: Climate scenario analysis

5.3.1: Has the bank undertaken climate-related scenario analysis?

0%
a. Has the bank conducted a climate-related scenario analysis for transition risks and disclosed its quantified results, including for a 1.5°C scenario?
b. Has the bank conducted a climate-related scenario analysis for physical risks and disclosed its quantified results, including for a higher temperature scenario?
c. Do the bank's quantitative scenario analyses explicitly cover all its material on- and off-balance sheet activities?
d. Do the bank's quantitative scenario analyses explicitly cover all of the high-emission sectors in which it has activities?
e. Does the bank’s quantitative scenario analysis explicitly include a 1.5°C scenario; comprehensively cover all high-emission sectors and on- and off-balance sheet activities; and report on how results informed decision-making?
Area 6

Climate solutions

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ALL BANKS AVERAGE
29.4%
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ALL BANKS MAX SCORE
67%
33%

6.1: Has the bank set and disclosed a strategy to scale up finance directed toward climate solutions?

33%
a. Has the bank committed to scale up finance directed toward climate solutions, with specific targets and milestones?
b. Has the bank disclosed its total share of finance directed towards climate solutions in the latest reporting year AND reported progress against the target? (conditional on scoring 'Yes' on sub-indicator 6.1a)
c. Has the bank disclosed its definition of climate solutions AND used an established, external standard developed by a national, regional, or global governing body (e.g., EU Taxonomy)? (conditional on scoring 'Yes' on sub-indicator 6.1a)
Area 7

Climate policy engagement

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ALL BANKS AVERAGE
0%
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ALL BANKS MAX SCORE
0%
0%

7.1: Has the bank disclosed a 1.5°C-aligned climate lobbying position, with governance and review measures to enforce this position?

0%
a. Has the bank disclosed a public commitment or position statement to conduct all of its lobbying in accordance with the goal of restricting global temperature rise to 1.5?C above pre-industrial levels?
b. Has the bank published an annual review of its climate policy positions, evaluated whether these are in line with Paris Agreement goals, AND disclosed how it has advocated for them through its own climate policy engagement activities?

7.2: Has the bank disclosed a 1.5°C-aligned climate lobbying position related to its trade association memberships, with governance and review measures to enforce this position?

0%
a. Has the bank disclosed a public commitment or position statement to advocate for 1.5?C-aligned lobbying within the trade associations of which it is a member?
b. Has the bank published a review of its trade associations’ climate positions or alignment with the Paris Agreement AND disclosed what actions it has taken as a result?
c. For each trade association, has the bank disclosed whether it sits on the Executive Board or plays an active role in committees or other activities related to climate change?
Area 8

Climate governance

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ALL BANKS AVERAGE
43%
46FF46B8-A5E5-4562-98A4-D1CE65A4E5F6 Created with sketchtool.
ALL BANKS MAX SCORE
78%
11%

8.1: Has the bank evaluated whether climate-related risks are material risks across its business and discussed the impacts?

0%
a. Has the bank included climate-related risks, including both transition and physical risks, as a key risk category in its annual report OR explained the decision to exclude climate risk as a material risk category? (conditional on scoring 'Yes' on sub-indicator 8.1a)
b. Has the bank disclosed in its annual report the implications of climate-related risks and actions taken?

8.2: Has the bank nominated a Board member or Board Committee with explicit responsibility for oversight of climate change?

33%
a. Has the bank disclosed evidence of a Board committee or a Board member with responsibility for oversight of climate change?
b. Has the bank assessed these individuals’ competencies with respect to managing climate risks and disclosed the results of those assessments?
c. Has the bank disclosed details on the criteria used to assess the board competencies with respect to managing climate risks and/or the measures taken to enhance these competences? (conditional on scoring 'Yes' on sub-indicator 8.2b)

8.3: Has the bank incorporated climate change performance elements in its executive remuneration scheme?

0%
a. Has the bank established a remuneration scheme at the C-suite level that specifically incorporates climate change performance as a KPI determining performance-linked compensation? (References to ‘ESG’ or ‘sustainability performance’ are insufficient)
b. Has the bank established a remuneration scheme at the C-suite level that incorporates progress towards achieving the bank’s financed/facilitated emissions reduction targets as a KPI determining performance linked compensation? (This requires meeting relevant target indicators in Section 2 and scoring 'Yes' on sub-indicator 8.3a)
Area 9

Just Transition

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ALL BANKS AVERAGE
21.2%
46FF46B8-A5E5-4562-98A4-D1CE65A4E5F6 Created with sketchtool.
ALL BANKS MAX SCORE
100%
0%

9.1: Has the bank integrated Just Transition principles in its climate strategy?

0%
a. Has the bank committed to decarbonise in line with defined Just Transition principles, recognising the social impacts of its decarbonisation efforts?
b. Has the bank disclosed actions taken to ensure relevant Just Transition considerations are incorporated in its climate strategy (e.g. Just Transition-related requirements in lending covenants and conditions, pre-investment screening, sector policies)?
Area 10

[BETA] Annual reporting, accounting and audits

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ALL BANKS AVERAGE
29.3%
46FF46B8-A5E5-4562-98A4-D1CE65A4E5F6 Created with sketchtool.
ALL BANKS MAX SCORE
64%
33%

10.1: [BETA] Has the bank implemented and disclosed in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)?

100%
a. Has the bank disclosed in line with all four pillars of the TCFD recommendations and signposted these disclosures in its Annual Report?

10.2: [BETA] Has the bank incorporated material climate-related matters in its audited financial statements, and notes on this?

0%
a. Has the bank demonstrated how material climate-related matters are incorporated in its financial statements?
b. Has the bank disclosed the quantitative climate-related assumptions and estimates (e.g., estimates of future cash flows used in impairment testing) in its financial statements?
c. Has the bank used, or disclosed a sensitivity to, assumptions and estimates that are aligned with achieving net-zero financed/facilitated emissions by 2050 (or sooner) in its financial statements? (conditional on scoring 'Yes' on sub-indicator 10.2b)
d. Are the bank’s financial statements consistent with the bank’s other reporting (e.g. annual report, TCFD index, sustainability report)? (conditional on scoring 'Yes' on sub-indicators 10.2a and 10.2b)

10.3: [BETA] Has the bank's audit report demonstrated that the auditor considered the effects of material climate-related matters in its audit?

0%
a. Has the report identified how the auditor has assessed the material impacts of climate-related matters?
b. Has the audit report analysed the bank's assumptions and estimates used in quantifying the financial consequences of climate -related matters?
c. Has the audit report identified inconsistencies between the financial statements and the bank's other reporting (e.g., Annual Report, TCFD index, sustainability report, etc.)?