An Unusual Solicitation AGAINST a Shareholder Proposal

The ultra-right, climate change denying National Legal and Policy Center (once again, the blander the name, the more they are trying to hide who they are) is now circulating a “proxy memorandum” (not a solicitation” urging shareholders of JP Morgan to vote against a “Fossil Fuel Phase-Out shareholder proposal sponsored by The Sierra Club Foundation.

We ask shareholders to consider the dubious “risks” of climate change versus the actual global economic and health risks of energy shortages caused by the activists’ war against fossil fuels, and versus the unviable, unrealistic near-term transition to renewable energy. Given those risks, we encourage shareholders to question whether JPMorgan should even participate in a debate best left to the public entities who enact policy based upon elections and the will of voters. It certainly shouldn’t be participating in the Task Force for Climate Related Financial Disclosures, which is voluntary.

JPMorgan Chase & Co. PX14A6G Letter to shareholders | JPM 18 Apr 23

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