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United Church Funds (UCF), in collaboration with the Investor Advocates for Social Justice (IASJ), has reached an agreement with JPMorgan Chase, marking significant progress in advancing Indigenous rights within the financial sector. As part of this agreement, UCF has withdrawn a 2025 shareholder proposal that called on JPMorgan to evaluate the effectiveness of the company’s policies, practices and performance indicators in respecting the rights of Indigenous Peoples.
Over the past several months, UCF and IASJ — alongside co-filers Maryknoll Sisters of St. Dominic, School Sisters of Notre Dame Collective Investment Fund and the Sisters of Saint Joseph of Peace, engaged in multiple dialogues with JPMorgan to underscore the importance of Indigenous rights in both project-specific and general corporate financing. Through sustained, good-faith engagement, the parties reached an agreement that marks a meaningful step toward greater transparency.
As a result of these active engagements, JPMorgan has agreed to include new disclosures in its proxy supplement related to its Nature and Social (N&S) policies. Notably, the disclosure states that the company will consider free, prior and informed consent where risks are identified before proceeding with transactions that may have material implications for Indigenous Peoples — including general corporate purpose, asset-specific financing and capital facilitation activities. It also affirms that JPMorgan will consider a range of internationally recognized principles when assessing risks related to Indigenous Peoples — an approach further outlined in the company’s updated 2025 Human Rights Statement.
Matthew Illian, UCF’s Director of Responsible Investing, said: “Investors are increasingly aware that failing to consider the rights of Indigenous Peoples can expose companies to serious financial, legal and reputational risks. We’re encouraged by JPMorgan Chase’s commitment to greater engagement on this issue, and we see this agreement as an important step toward more responsible, resilient investment practices that benefit all stakeholders.”
A forthcoming disclosure expected later in 2025 will provide further detail on JPMorgan’s internal firmwide policies and standards. It is anticipated that JPMorgan will identify and evaluate risks related to Indigenous Peoples, and, where appropriate, engage with companies, and may require them to address these concerns prior to moving forward with financing or transactional support.
Caitlin Seznec, Program Director of Climate + Dignity at IASJ, said: “We recognize that this agreement reflects meaningful progress, while acknowledging that important work is still ahead to ensure the full respect of Indigenous Peoples’ rights. We appreciate JPMorgan’s responsiveness to investor concerns and look forward to continued engagement. As one of the largest U.S. banks, JPMorgan has the opportunity to lead its peers in advancing respect for Indigenous Peoples’ rights. This agreement marks a step in that direction.”
The JPMorgan Chase proposal was one of three proposals on this issue filed at major U.S. banks this year. Similar proposals remain on the proxy statements at Citigroup and Wells Fargo and will go to a vote at their respective upcoming annual meetings on April 29, 2025.
About United Church Funds
United Church Funds (UCF) is the leading provider of socially responsible, values-aligned investment management services to United Church of Christ churches and ministries, as well as all faith-based organizations. We offer customized investment portfolios and prudent investment strategies that provide competitive returns while also reflecting our clients’ values in seeking to achieve a just world. UCF also offers endowment governance consulting, planned giving programs and superior, personalized service from our dedicated Client Services team. To learn more about how UCF can help your church or faith-based organization further its mission while achieving its long-term financial goals, please visit www.ucfunds.org, email us at [email protected] or call us toll-free at 877-806-4989.
About Investor Advocate for Social Justice
Investor Advocates for Social Justice (IASJ) is a 501(c)(3) non-profit organization representing investors with faith-based values who seek to leverage their investments to advance human rights, climate justice, racial equity, and the common good. On behalf of our Affiliates, we engage companies to address strategic environmental, social, and governance issues and advocate for change. IASJ uses a variety of shareholder advocacy strategies to encourage corporations to adopt more ethical and sustainable business practices, and believes in seeking out and building collaborative partners who share similar goals, in an effort to increase the effectiveness and impact of our work.
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