JPMorgan World Bank Veteran Leaves, Saying CO2 ‘Died’ - Bloomberg

Odin Knudsen, the JPMorgan Chase & Co. (JPM) managing director for environmental markets, resigned last month as the largest U.S. lender scaled back its climate-related practice. Knudsen, 68, left the New York-based lender by mutual agreement after it became apparent the U.S. was not going to join a global system to trade carbon emissions, undermining the bank’s business plans, he said in a Nov. 21 phone interview. JPMorgan spokesman Brian Marchiony declined to comment.
“We’d all been geared up for the U.S. coming on board at some point,” Knudsen said. “The market pretty much died out.”