On December 2, according to Bloomberg, jpmorgan still harbors doubts about "transition finance," which many Wall Street peers embrace. Transition finance exists in a regulatory gray area, allocating capital to activities that ultimately help reduce carbon emissions in the broader economy. At the same time, financing for corporate decarbonization is also seen as a vast business area; Apollo Global Management Inc. recently mentioned that the energy transition could bring about $50 trillion in investment opportunities over the coming decades. Against this backdrop, some large banks on Wall Street are designing frameworks for "transition finance" to define eligible assets and activities. According to public documents and informed sources, this includes wells fargo & co and citigroup. Meanwhile, Linda French, jpmorgan's global head of sustainability policy and regulation, stated that it is still unclear whether calling something a transition asset will free up capital. She noted that this approach ultimately overlooks an important fact: investors are less concerned about definitions; they are more interested in evidence of results from capital allocation.