Aug 17, 2020 - 3:15pm

JPMorgan Chase Expands Commitment to Low-Carbon Economy and Clean Energy Transition to Advance Sustainable Development Goals

Ambitions

In 2017, JPMorgan Chase made two sustainability commitments: facilitate $200 billion in clean financing by 2025 and source renewable energy for 100% of its global power needs by 2020. Both of these goals are expected to be reached by the end of 2020. Now, JPMorgan Chase is taking additional steps to address climate change and further promote sustainable development.

For 2020, the company committed to facilitate $200 billion in financing to advance the objectives of the United Nations Sustainable Development Goals (SDGs), including $50 billion toward green initiatives that also fulfill the 2017 clean financing target. This new commitment is intended to address a broader set of challenges in the developing world and developed countries where social and economic development gaps persist.

Investments

From 2003 to 2019, JPMorgan Chase committed and arranged over $24 billion in tax equity financing for wind, solar, and geothermal energy projects in the U.S.

The firm is a significant underwriter of green bonds and bonds with a sustainable use of proceeds.

Innovations

Increasing its support for renewable energy is a core part of JPMorgan Chase’s operational sustainability strategy. In addition to reducing energy consumption by implementing energy efficient lighting and other technologies, JPMorgan Chase is undertaking a range of actions. These include installing on-site renewable energy at retail branches and commercial buildings, such as the construction of a 3.6 MW rooftop and carport system in Arizona and a 2.8 MW rooftop system in Ohio, which is one of the world’s largest commercial installations of bifacial solar modules.

In May 2019, JPMorgan Chase published a report on how the company is addressing climate-related risks and opportunities, informed by the Task Force on Climate-related Financial Disclosures.

For more information, visit www.jpmorganchase.com/sustainability.

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