10:35 AM EST, 01/07/2025 (MT Newswires) -- (Updates throughout with JPMorgan's ( JPM ) comments.)

JPMorgan ( JPM ) is leaving climate group Net-Zero Banking Alliance, a company spokesperson told MT Newswires Tuesday.

"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," the spokesperson said.

"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," the spokesperson added.

Reuters reported Tuesday that the move follows months of pressure from some Republican politicians in the US who have said that membership in similar groups may violate antitrust rules.

JPMorgan ( JPM ) shares were up 1% in recent trading.

Price: 243.33, Change: +2.48, Percent Change: +1.03