Skip to main content

EGEB: Fossil-fuel investor JP Morgan warns of ‘catastrophic’ climate change

In today’s Electrek Green Energy Brief (EGEB):

  • A report sent out by JP Morgan to clients says climate-change inaction could be catastrophic.
  • The Farmers for a Sustainable Future coalition has been formed by 21 agricultural groups.
  • EV software solutions provider Electriphi signs with the largest fleet of e-school buses in North America.

The Electrek Green Energy Brief (EGEB): A daily technical, financial, and political review/analysis of important green energy news.

JP Morgan’s climate-change report

A new report by JP Morgan economists David Mackie and Jessica Murray, which was sent to clients and seen by the BBC, makes the damning statement:

‘We cannot rule out catastrophic outcomes where human life as we know it is threatened.’

Carbon emissions in the coming decades ‘will continue to affect the climate for centuries to come in a way that is likely to be irreversible,’ they said, adding that climate change action should be motivated “by the likelihood of extreme events.’

“It is a global problem but no global solution is in sight,” the report added.

In a 2019 report, the Rainforest Action Network said that JP Morgan provided the most fossil-fuel financing out of all banks from 2016 to 2018.

Lee Raymond, JPMorgan Chase’s lead independent director, is the former CEO and Chair of ExxonMobil.

The authors state that there needs to be a global tax on carbon in order to work toward net zero emissions by 2050. JP Morgan said that the report’s research was wholly independent from the bank.

Farmers, ranchers, and sustainability

Twenty-one US agricultural groups announced the formation of Farmers for a Sustainable Future at a Capitol Hill press conference, writes Capital Press, which reports on farming, ranching, and agriculture.

The coalition will serve as a resource for policymakers, the media, and the public. However, as agricultural news source the Fence Post points out:

The coalition’s documents do not use the term ‘climate change,’ and a primary goal of the coalition appears to be to point out what farmers are already doing to address sustainability issues.

Zippy Duvall, American Farm Bureau Federation president, said:

Agriculture has a great story to tell about using technology and innovation, and the coalition is a tremendous tool to advance sustainability and climate-smart farming.

It supports science-based research, resilient infrastructure, and focusing on outcomes.

Farmers and ranchers have demonstrated a commitment to sustainability.

The groups represent the majority of US agriculture.

In 2017, the Union of Concerned Scientists defined sustainable agriculture as building and maintaining healthy soil; managing water wisely; minimizing air, water, and climate pollution; and promoting biodiversity.

Electriphi partners with e-school buses

EV software solutions provider Electriphi has signed with the Twin Rivers Unified School District in Sacramento, California, which is the largest fleet of electric school buses in North America.

San Francisco-headquartered Electriphi develops software solutions and services for EV fleet and energy management that are compatible with any charging infrastructure or vehicle type. It offers an open-standards-based charging and operations management platform that saves energy costs and simplifies the transition to EV fleets. The company yesterday announced $3.5 million in seed funding to fuel customer growth, scale its services, and enter into new markets.

In 2017, Twin Rivers was the first school district in the US to deploy electric school buses. The district currently has 30 EV buses in its fleet.

Tim Shannon, transportation services director of the Twin Rivers Unified School District, said:

This is a significant undertaking, and we needed a trusted partner that could provide us state-of-the-art charging management and help us with data collection and monitoring. Electriphi has absolutely been that partner to us, by helping reduce operational costs and simplifying our data collection and reporting.

FTC: We use income earning auto affiliate links. More.

You’re reading Electrek— experts who break news about Tesla, electric vehicles, and green energy, day after day. Be sure to check out our homepage for all the latest news, and follow Electrek on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our YouTube channel for the latest reviews.



Avatar for Michelle Lewis Michelle Lewis

Michelle Lewis is a writer and editor on Electrek and an editor on DroneDJ, 9to5Mac, and 9to5Google. She lives in St. Petersburg, Florida. She has previously worked for Fast Company, the Guardian, News Deeply, Time, and others. Message Michelle on Twitter or at Check out her personal blog.