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      "text": "CLIENT CARBON ASSESSMENT FRAMEWORK SCORE Lowest Bucket 1 Bucket 2 Bucket 3 Bucket 4 Bucket 5 Highest",
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      "text": "Disclosed our Carbon Assessment Framework (\"CAF\"), an assessment methodology for our clients' emissions and decarbonization plans which is used as one factor in our decision-making on new transactions for in-scope clients in our targeted sectors (see graphic to right)",
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      "text": "The requested policy would restrict management's ability to make the best business judgments on which companies and projects to finance, and would not be in the interests of the Firm's long-term shareholder value",
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      "text": "We intend to disclose absolute financed emissions in key sectors of our financing portfolio in 2023",
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      "text": "The Firm set a target to finance and facilitate $1 trillion toward green initiatives, including supporting activities like renewable energy, clean technology, and sustainable transportation",
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      "text": "Adopting the proposal could reduce certain energy clients' access to capital when seeking to finance green and transition activities",
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      "text": "The requested report would interfere with management's ability to pursue its strategy, monitor and respond to developments, and is not in the interests of long-term shareholder value",
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      "text": "Adoption of absolute targets in addition to intensity targets is not practical, and could risk transferring carbon intensive banking and emissions elsewhere",
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      "text": "Announced 2030 emissions intensity-reduction targets for three new sectors - Iron & Steel, Cement and Aviation",
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      "text": "We have taken voluntary action to disclose our climate approach and progress on a regular basis, informed by the Task Force on Climate-related Financial Disclosures (TCFD)",
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      "text": "The requested report would prescribe the content of our climate-related communications and would not necessarily be in the interests of long-term shareholder value",
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      "text": "Published the Firm's 2022 Climate Report. The report provides updates on how we measure and make progress toward previously established targets for the Oil & Gas, Electric Power and Automotive Manufacturing sectors",
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      "text": "An abrupt withdrawal from financing new oil and natural gas projects would increase energy security risks",
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      "text": "Hosted an investor event, The Business of Climate: Opportunities, Risks and Targets at JPMorgan Chase, discussing the Firm's climate strategy and progress",
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      "text": "Management determined that the optimal approach for supporting our clients' transitions right now is carbon intensity targets which better balance accelerating emission reductions with fostering economic growth, and more effectively consider energy security",
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      "text": "The Firm's 2022 Climate Report includes detailed reporting of our progress on our three initial 2030 targets, established three new targets aligned with Net Zero, described our approach to climate risk management, and the use of our CAF for in-scope clients across lending and capital markets activities",
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      "text": "Announced intent to share more details on our approach to absolute-based metrics in 2023, including disclosure of absolute financed emissions in key sectors of our financing portfolio",
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      "text": "PROPOSAL 9: REPORT ON CLIMATE TRANSITION PLANNING",
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      "text": "PROPOSAL 6: FOSSIL FUEL PHASE OUT",
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      "text": "PROPOSAL 12: ABSOLUTE GHG REDUCTION GOALS",
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      "text": "The Board of Directors recommends that shareholders vote AGAINST the following climate-related proposals",
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      "text": "Key Aspects of Our Carbon Assessment Framework Quantitative Assessment Current Carbon Intensity Client is scored relative to JPMorgan Chase's portfolio Forecasted Carbon Intensity Client is scored relative to JPMorgan Chase's 2030 interim target Historical Carbon Intensity Reduction Client is scored based on the 2-year change in its carbon intensity Quantitative Score (1-5) Qualitative Assessment Holistic view of the client's plans to achieve its decarbonization plans This includes strategic actions taken by clients to drive progress toward decarbonizing their business Qualitative Score (1-5)",
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