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JP Morgan: Gov't Must Seize Private Land to Save Planet

Posted by EU Times on Apr 11th, 2023 // No Comment

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Jamie Dimon, CEO of JP Morgan, has called for governments worldwide to seize people’s private property to build wind and solar farms. This comes in the wake of a lawsuit filed against JP Morgan by Denise George, the former US Virgin Islands Attorney General, alleging the bank profited from Jeffrey Epstein’s sex trafficking scheme.

In his annual letter to shareholders, Dimon states that the window for action to avert the costliest impacts of global climate change is closing. He believes that massive global investment in clean energy technologies is needed and that permitting reforms are desperately needed to allow investment to be done in any kind of timely way.

Dimon also suggests invoking eminent domain to expedite progress. He believes actions like the Bipartisan Infrastructure Law, the CHIPS and Science Act, and the Inflation Reduction Act can unlock over $1 trillion in clean technology development.

Dimon hopes the American innovation machine will find the additional technologies needed, while raising awareness of the downside of massive, inefficient and malinvestment of capital.

He believes that if a diverse range of stakeholders come together and engage around the common interest of bolstering growth while securing an energy future and meeting climate targets, then the challenge of global climate change can be addressed.

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