JPMorgan Chase gets a bit greener

JPMorgan Chase has said that it will align to the goals of the Paris Agreement and as a part of its strategy intends to help clients’ transition to a low-carbon world.

The company plans to work with clients in key sectors such as oil and gas, electric power and automotive manufacturing to align financing activities with the goals of Paris and will establish intermediate emission targets for 2030 for its financing portfolio.

JPMorgan Chase plans to share more details in its next climate report, which will be informed by the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and will be published in spring 2021.

“By aligning its financing with the Paris climate goals, the bank is sending a powerful signal that will help steer utilities, automakers, and oil and gas companies further along the path to decarbonisation,” said Bob Perciasepe, president of the Center for Climate and Energy Solutions. “Executing this new strategy will be no easy task. But as more and more companies step up to the challenge, it’s now up to our political leaders to enact the policies needed to get the job done.”

The company is also launching the Center for Carbon Transition (CCT) to provide clients in the corporate, investment and commercial banking with access to sustainability-focused financing, research and advisory solutions. The CCT will also engage clients on their long-term business strategies and related carbon disclosures.

Within its own operations, it will be expanding upon its 100 per cent renewable energy target by committing to become carbon neutral in its operations beginning in 2020. This commitment will cover all of JPMorgan Chase’s direct carbon emissions from its corporate buildings and branches, indirect emissions from the generation of purchased electricity, and emissions from employee travel

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