Statement from New York City Comptroller Scott M. Stringer on Behalf of NYCERS, TRS, and BERS

“On Earth Day last week, we launched a campaign urging JPMorgan Chase & Co shareholders to vote against the re-election of Lee Raymond to the board, based on his role as lead ‘independent’ director, long tenure on the board, and ties to fossil fuels.

“Following the launch of our campaign, JPMorgan has now disclosed that they will be naming a replacement lead independent director by the summer of 2020. This is a tremendous victory for shareholders and for the planet.

“This move helps ensure improved oversight of the board and the company’s long-term strategy when it comes to transitioning to a low carbon economy. But our work does not stop here.

“JPMorgan has been the largest global lender and underwriter to the fossil fuel sector, providing $269 billion in financing to fossil fuel expansion from 2016 to 2019. The company needs to move away from financing the dirty fossil fuels of the past and toward the big, strategic clean energy investments of the future. There must be no place for a climate change denier and former Exxon CEO on JPMorgan’s board.”

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