07 Aug J.P. Morgan commit to $200 bn clean-energy financing by 2025
JPMorgan Chase is expanding its strategy to advance environmentally sustainable solutions for clients and its own operations according to a press release. The firms two new strategic goals include firstly, renewable energy, meaning the firm will source renewable power for 100 percent of its global energy needs by 2020. For the 100 renewable energy goal, JPM commits prioritizing transactions that add new renewable energy to the grids on which it consumes power. Further to install renewable energy technology across buildings and branches, sign Power Purchase Agreements with renewable energy projects and reduce energy consumption.
The second strategic goal is clean financing, meaning JPM will facilitate $200 billion in clean financing through 2025, the largest commitment by a global financial institution. As reported by Impact Alpha, JPM did about $15 billion in such deals in 2015, including green bonds, tax-equity financings, project financing and even IPOs; the new pledge would boost that to about $22 billion a year.
For more details on the commitment please follow the link.