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ESG

JPMorgan’s Chuka Umunna on ESG: ‘It’s become a politically loaded phrase, I prefer the term sustainability’

Managing director says banks play a part in facilitating the energy transition but ‘it is not our role to deliver it’

Chuka Umunna was the Labour MP for Streatham prior to joining JPMorgan
Chuka Umunna was the Labour MP for Streatham prior to joining JPMorgan

JPMorgan managing director Chuka Umunna’s job title is “head of Emea ESG” — yet he doesn’t like the moniker which has become increasingly controversial .

“I tend to prefer sustainability over ESG myself,” he told Financial News in a wide-ranging interview. “There’s been a move towards using the term sustainability in the US over ESG just because it has become quite a politically loaded phrase. Whereas in Europe, I think the two terms are used interchangeably.

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