JP Morgan Exits Net Zero Initiative, Renames DEI Program

Editorial Staff

24 March 2025

In a sign of the supposed “vibe shift” going on in the US economy since the election last November of Donald Trump, that the asset management unit of JP Morgan has reportedly left a flagship industry climate effort.

JPMAM noted the pause by the Net Zero Asset Managers initiative in January, which took place "in the midst of developments in the regulatory environment and client expectations. In light of that, JPMAM has decided to exit,” a spokesperson for the US bank was quoted by Reuters as saying on Friday.

Separately, on the same day , JP Morgan said it is changing the name of its diversity, equity, and inclusion program.

The lender will now call the initiative Diversity, Opportunity & Inclusion, or DOI, chief operating officer Jenn Piepzak said in a memo to staff Friday, “because the ‘e’ always meant equal opportunity to us, not equal outcomes, and we believe this more accurately reflects our ongoing approach to reach the most customers and clients to grow our business.”

The bank said its employee groups will continue to focus on engagement, cultural celebrations, education and historical observances. JP Morgan plans to “reduce trainings while maintaining a focus on high quality offerings,” according to the memo, the report said.