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JPMorgan's sustainable funds under fire for backing Glencore amidst community water crisis

JPMorgan Chase & Co.'s sustainable investment funds are facing criticism for their continued investment in Glencore, a mining company linked to a severe water crisis in the Eastern Cape, South Africa. Despite Glencore's involvement in polluting local water sources, which has led to significant health and environmental issues, JPMorgan has not divested from the company. Instead, it holds Glencore in funds like the JPMorgan Global Socially Responsible Fund, which is supposed to exclude companies with poor environmental, social, and governance (ESG) practices. This decision has sparked debate over the integrity of ESG investing, with critics arguing that such investments undermine the very principles of sustainability and social responsibility that these funds are meant to uphold. The situation highlights the complexities and potential conflicts within ESG investing, where financial returns often compete with ethical considerations.

Read the Full MSN Article at:
[ https://www.msn.com/en-za/money/general/jpmorgan-s-sustainable-funds-under-fire-for-backing-glencore-amidst-community-water-crisis/ar-AA1A5jCX ]