JPMorgan has taken a few small steps to restore its reputation around climate change: The bank has promised to phase out funding of Arctic oil exploration. Its financing of the fossil fuel industry did drop significantly in 2020, though whether that's a reflection of the pandemic or sustainability commitments is unclear. Last December, after a year of steady pressure to oust the 33-year JPMorgan board member Lee Raymond, the former Exxon chief resigned. No specific reason was given for his resignation.