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JPMorgan Facing A New Environmental Fight Over Tar Sands Funding

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JP Morgan funding tar sandsJPMorgan Chase is the target of a new environmental push demanding the bank end funding for tar sands drilling, HuffPost has learned.

In a new campaign set to be announced Tuesday, the San Francisco-based Rainforest Action Network criticizes the country’s largest bank by assets for providing over $3.1 billion to tar sands producers between 2014 and 2016 alone.

Tar sands, a noxious mix of sand, clay and bitumen, are considered one of the dirtiest fossil fuels, and serve as a political lightning rod in the United States and Canada, the latter a top producer with reserves estimated at 166.3 billion barrels.

The group planned rallies on Tuesday afternoon in Denver, where JPMorgan CEO Jamie Dimon is visiting with local officials, and sent a letter to Mayor Michael Hancock urging that Colorado’s capital divest from the bank.


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