JPMorgan adds nuclear, grid to green finance; 49% of $2.5tn goal

JPMorgan will count grid infrastructure and nuclear energy as eligible for its green-financing tally.

The change widens the asset base behind a $2.5 trillion sustainable-development target the bank says is 49% complete.

The $217 billion of sustainable-development financing the bank reported for 2025 equals about 8.7% of the $2.5 trillion goal, indicating the 49% figure is cumulative. JPMorgan also set 2035 carbon-intensity targets, including a 79% cut for its electric power portfolio.

Grid and nuclear spending that counts toward the $2.5 trillion is not thereby aligned with the EU taxonomy or with any given fund's sustainability screen. JPMorgan's criteria are its own. Fund selectors need to check which categories a framework admits, and when that list last changed, before treating a bank's tally as comparable.

The eligibility change can lift qualifying volume without new lending: admitting more asset classes lets the same balance sheet produce more countable activity. The $217 billion counts dollars extended; carbon intensity is a ratio, which can fall while absolute emissions rise if the portfolio grows.

The bank's next annual update will be the first to show the wider eligibility in qualifying volume. The disclosure does not give the baseline year for the 79% power-portfolio cut, so how much of that reduction is already booked cannot be read from it.