JPMorgan to spend $2.5 trillion to fight climate change

US bank JPMorgan Chase & Co intends to allocate $2.5 trillion over the next decade to support initiatives in the field of combating climate change and ensuring sustainable development.

About $1 trillion will be spent on projects that encourage the use of clean energy sources, such as wind and solar, JPMorgan said in a statement.

In addition, the bank plans to finance transactions that promote socio-economic development in developing countries, as well as initiatives that promote economic integration in developed markets, including in the areas of affordable housing and health care.

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