07:10 AM EST, 01/03/2025 (MT Newswires) -- JPMorgan Chase ( JPM ) is also considering withdrawing from the Net-Zero Banking Alliance after Morgan Stanley ( MS ) , Citi (C), and Bank of America (BAC) withdrew from the United Nations-backed climate coalition this week, The Wall Street Journal reported late Thursday, citing a person familiar with the matter.

A JPMorgan ( JPM ) spokeswoman told WSJ that the bank regularly assesses its memberships to ensure they align with its business and client interests.

The report said the recent pullbacks from the coalition reflect a broader retreat from environmental, social, and corporate governance initiatives ahead of the second Trump administration, which has previously downplayed climate change and is expected to roll back related regulations.

JPMorgan Chase ( JPM ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)