JPMorgan Chase Needs to Ditch Ocean Dumping
The bank declares it is committed to sustainability and human rights. Its behavior suggests otherwise.
Why is the Ditch Ocean Dumping Coalition Focused on JP Morgan Chase?
JPMorgan Chase facilitates investment in six mining companies that dump—or are planning to dump—more than 778 million tonnes of toxic mine waste into the ocean and coastal estuaries in Papua New Guinea, Indonesia, and Turkey.
“As sustainability priorities increase in importance, effective management of such issues requires that we work proactively with our clients to understand their environmental and social performance, manage risk and promote best practices.” – Jamie Dimon, CEO JPMorgan Chase
Effective Management or Dirty?
Mine waste decimates marine habitat and valuable commercial and sport fisheries. Waste from Highlands Pacific’s Ramu nickel mine in Papua New Guinea goes straight into the “Coral Triangle” of the Bismarck Sea, home to the highest diversity of coral, fish and marine plant species in the world.
Best Practices or Unnecessary?
Ocean mine waste dumping is an outdated practice that has been phased out in many parts of the world due to harmful and often irreversible impacts on coral reef, marine life, and coastal livelihoods.
Sustainable or Wrong?
Coastal fisherman concerned about the impact of mine waste dumping filed a complaint against the Norwegian government over Nordic Mining’s proposed Engebø mine. The local tourism industry calls the project a “catastrophe for modern business.”
Dirty. Unnecessary. Wrong.
It’s time for JPMorgan Chase to stop putting our money to waste, and Ditch Ocean Dumping! Take Action and tell their CEO Jamie Dimon to do so!
JP’s Dumping
- St Barbara Limited – Simberi gold mine
- Newcrest Mining – Lihir gold mine and proposed Wafi-Golpu copper-gold mine
- First Quantum Minerals – Cayeli copper-zinc mine
- Harmony Gold – proposed Wafi-Golpu copper-gold mine
- Freeport McMoRan – Grasberg copper-gold mine
