*
Last of the Big-6 U.S. banks to leave the group
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Says remains 'focused on pragmatic' climate solutions
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Exit comes amid rising U.S. political pressure
(Adds detail on previous leavers and political pressure in
paragraphs two and three)
By Simon Jessop
LONDON, Jan 7 (Reuters) - JPMorgan ( JPM ) said on
Tuesday it was leaving the Net-Zero Banking Alliance, the latest
U.S. lender to quit the sector's biggest climate coalition amid
rising U.S. political pressure.
The move means the six biggest banks in the world's largest
economy - Goldman Sachs ( GS ), Wells Fargo ( WFC ), Citi,
Bank of America ( BAC ), Morgan Stanley ( MS ) and now JPMorgan ( JPM )
- have all left the group in the space of a month.
JPMorgan ( JPM ) gave no clear reason for leaving the
initiative, yet it comes after months of pressure from some
Republican politicians who said membership of such coalitions
could breach anti-trust rules.
"We will continue to work independently to advance the
interests of our Firm, our shareholders and our clients and
remain focused on pragmatic solutions to help further low-carbon
technologies while advancing energy security," a company
spokesperson said in a statement.
"We will also continue to support the banking and investment
needs of our clients who are engaged in energy transition and in
decarbonizing different sectors of the economy."