JPMorgan says US remains favorable for green investments

A senior executive from JPMorgan Chase believes the United States is not a hostile place for green investors, despite political changes under former President Donald Trump. Chuka Umunna, who leads sustainable solutions at JPMorgan, spoke about this during an interview with Bloomberg Television. Umunna noted that the Inflation Reduction Act, a key climate law under President Joe Biden, is popular even in Republican states. He mentioned that House Speaker Mike Johnson indicated Republicans are unlikely to fully repeal it. Umunna emphasized that the need for abundant energy is a shared concern, regardless of opinions on climate change. While Trump has been critical of climate policies and supports fossil fuel development, Umunna stated that US policy is still open to green investments. He argued that a focus on energy should not distract from other priorities, such as national security, especially in Europe. He also pointed out that investments in green technologies should still aim for profitable returns. Umunna stressed that investors are not motivated purely by sustainability but see potential for financial gain in green initiatives.