JP Morgan Chase CEO Calls on Lawmakers to Take Drastic Action for Renewable Energy

JPMorgan Chase CEO Jamie Dimon has an idea for how lawmakers can make the transition to renewable energy easier.

In his annual shareholder letter, Dimon wrote, “The window for action to avert the costliest impacts of global climate change is closing.”

According to the CEO, “To expedite progress, governments, businesses and non-governmental organizations need to align across a series of practical policy changes that comprehensively address fundamental issues that are holding us back. Massive global investment in clean energy technologies must be done and must continue to grow year-over-year.”

Dimon argued, “Permitting reforms are desperately needed to allow investment to be done in any kind of timely way.”

He continued, “We may even need to evoke eminent domain – we simply are not getting the adequate investments fast enough for grid, solar, wind and pipeline initiatives.”

Dimon argued, “Widespread investing across the private sector will aid domestic manufacturing, invigorate research and development in green innovation, help create resilient supply chains, lift up local economies and build the U.S. clean energy workforce by up to 9 million jobs over the next decade.”

Mentioning policies, including the Bipartisan Infrastructure Law, the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act, and the Inflation Reduction Act (IRA), he suggested they should be implemented as soon as possible to unlock clean technology development.

“Bolstering growth must go hand in hand with both securing an energy future and meeting science-based climate targets for future generations,” Dimon said.

Along with Dimon’s push for clean energy, it appears he has changed his tune on the 💰Economy