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NEW YORK (Reuters) - JPMorgan Chase & Co aims to lend, invest and provide other financial services for up to $2.5 trillion of banking business to be done for companies and projects tackling climate change and social inequality over the next decade.
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In a statement on Thursday, JPMorgan said green initiatives will account for $1 trillion of that total - the largest environmental, sustainable and governance (ESG) financing target announced by a U.S. bank to date.
That could mean lending or investing in companies that develop clean-energy technology for the trucking, aviation or industrial manufacturing sectors, the bank’s head of sustainability, Marisa Buchanan, told Reuters in an interview.