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JPMorgan set to remove Russia from ESG bond indexes - source

Published 02/28/2022, 12:00 PM
Updated 02/28/2022, 01:01 PM
© Reuters. FILE PHOTO: JP Morgan Chase & Co. in New York City, May 20, 2015.  REUTERS/Mike Segar
JPM
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LONDON (Reuters) - JPMorgan (NYSE:JPM) is set to remove Russia from the environmental, social and governance (ESG) versions of its emerging market bond indexes, while it continues to review the country's ejection from its widely used emerging debt benchmarks.

© Reuters. FILE PHOTO: Workers are reflected in the windows of the Canary Wharf offices of JP Morgan in London September 19, 2013. REUTERS/Neil Hall

A source familiar with the bank told Reuters on Monday Russia is set to be removed from the ESG versions of JPMorgan's Government Bond Index-Emerging Markets indexes, and the JP Morgan Emerging Market Bond Index. JPM is consulting with clients about when and how to remove Russia from the ESG index, the person added.

The bank is still reviewing the impact of sanctions launched by the West on Russia, on the country's presence in its main emerging market bond indexes.

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