JPMorgan Chase is expanding its comprehensive strategy to advance environmentally sustainable solutions for clients and its own operations. The firm’s two new strategic goals include:

• Renewable energy: JPMorgan Chase will source renewable power for 100 percent of its global energy needs by 2020.

    The firm has offices and operations in more than 60 countries across over 5,500 properties, covering     approximately 75 million square feet – about 27 times the square footage of the office space at the     Empire State Building.

• Clean financing: The firm will facilitate $200 billion in clean financing through 2025, the largest commitment by a global financial institution.

Through this commitment, JPMorgan Chase will help scale the impact of sustainability efforts among its approximately 22,000 corporate and investor clients in the United States and across the world.
The announcement builds on JPMorgan Chase’s leadership and history of advancing sustainability in business and operations, including a recent partnership with Current, powered by GE, to cut energy use at Chase branches. JPMorgan Chase will leverage its financial resources, insights and expertise to help clients, customers and communities better manage sustainability challenges and capitalize on new opportunities.

“Business must play a leadership role in creating solutions that protect the environment and grow the economy,” said Jamie Dimon, chairman and CEO of JPMorgan Chase. “This global investment leverages the firm’s resources and our people’s expertise to make our operations more energy efficient and provide clients with the resources they need to develop more sustainable products and services.”

100 Percent Renewable Energy Commitment

The firm will achieve its goal by prioritizing transactions that add new renewable energy to the grids on which it consumes power. JPMorgan Chase will install renewable energy technology across buildings and branches, sign Power Purchase Agreements with renewable energy projects and reduce energy consumption. Details include:

• Installing on-site renewable energy. Developing on-site solar power generation for up to 1,400 bank-owned retail and 40 commercial buildings globally.
• Executing Power Purchase Agreements for renewable energy. Using the strength of the firm’s global reach and expertise in the renewable power sector to support the development of new renewable energy projects on the grids from which JPMorgan Chase purchases power.
• Executing wind and solar PPAs in select markets in the United States to offset the firm’s traditional power consumption by 40%. As a first step, JPMorgan Chase’s Global Real Estate and Global Commodities divisions executed a 20-year PPA with a subsidiary of NRG Energy, Inc. to support the development of the Buckthorn wind farm, a 100 MW project in Erath County, Texas. Signed in November 2016, the project is expected to be operational by the end of 2017. Over half of the wind farm’s output was purchased by the Global Real Estate team and will provide electricity for approximately 75 percent of the firm’s power consumption in Texas and 13 percent of overall consumption in the United States. This includes the firm’s new 6,000-employee campus at Legacy West in Plano, Texas, which will open in late 2017. The project created about 190 clean energy construction jobs and will produce enough renewable energy annually to power the equivalent of 29,300 homes.
• Reducing energy consumption. Conducting the world’s largest LED lighting installation in partnership with Current, powered by GE. About 4,500 Chase branches will install new lighting technologies, cutting total energy consumption by 15 percent.

Clean Financing Commitment

JPMorgan Chase is making the largest commitment by a global financial institution to facilitate $200 billion in clean financing by 2025. JPMorgan Chase has facilitated and advised on some of the largest clean financings and strategic transactions in the renewable energy sector. Examples include:

• Advising clients on leading strategic transactions and capital raises in the renewable energy sector, including Dong Energy, a global leader in offshore wind, on its USD $3.0 billion Initial Public Offering (2016).
• Financing and providing risk management solutions for clients’ renewable energy projects and companies to facilitate new energy, technology, transportation, waste management, and water treatment innovations.
• Underwriting debt with a sustainable use of proceeds for municipal, corporate and multilateral clients. These transactions totaled nearly $15 billion in 2016. Projects in 2017 include serving as active bookrunner on Apple’s $1.0 billion green bond offering in June.
• Supporting clients’ sustainability initiatives. JPMorgan Chase provides industry-leading research and publishes reports on environmental, social and governance issues.
• The firm shares insights and best practices on sustainability with its corporate and investor clients to advance efforts globally.