JPMorgan to invest $2.5tr in climate

JPMorgan Chase has set a ten-year target to include $1tr for green initiatives, such as renewable energy and clean technologies, and aims to finance and facilitate more than $2.5tr over the period.

“Climate change and inequality are two of the critical issues of our time, and these new efforts will help create sustainable economic development that leads to a greener planet and critical investments in underserved communities,” said Jamie Dimon, Chairman and CEO. “Business, government and policy leaders must work together to support long-term solutions that advance economic inclusion, bolster sustainable development and further the transition to a low-carbon economy. We are committed to doing our part."

To help clients navigate the challenges and the long-term benefits of this transition, the firm will continue to provide clients in the corporate and investment bank and commercial banking with centralised access to sustainability-focused financing, research and advisory solutions through its Center for Carbon Transition. As part of its efforts the commercial banking sectors also recently launched a green economy specialised industry team. The team will initially focus on four sectors: renewable energy, efficiency technology, sustainable finance, and agriculture and food technology.
The firm will finance and facilitate transactions that support socioeconomic development and quality of life in developing countries. By originating and structuring transactions with anticipated development impact, the firm will mobilise capital to advance the United Nations Sustainable Development Goals (SDGs) in emerging economies.

tHe company will also will advance economic inclusion in developed markets. The firm will focus its efforts on small business financing, home lending and affordable housing, education and healthcare. This includes the firm’s recent $30bn commitment to advance racial equity.

The long-term targets complement the firm’s Paris-aligned financing strategy and it will share an update and additional information on its strategy with the release of its annual ESG Report in May.

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