JPMorgan Chase to become 100% reliant on renewables by 2020

JPMorgan Chase & Co. has committed to long-term sustainability with plan to go 100% renewable by 2020. JPMorgan is a global financial services firm and one of the largest banking institutions in the U.S., with operations worldwide.

Wind O and M

JPMorgan Chase will execute wind and solar PPAs in select markets in the U.S. to offset the firm’s traditional power consumption by 40%, and has plans to go 100% renewables by 2020.

“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.”

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% 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 U.S. and across the world.

The firm will achieve its goal by prioritizing transactions that add new renewable energy to the grids on, which it consumes power. For example, JPMorgan plans to build on-site solarfor up to 1,400 of its bank-owned retail and 40 commercial buildings globally.

It will also execute wind and solar Power Purchase Agreements in select markets in the United States to offset the firm’s traditional power consumption by 40%.

To read more on JPMorgan’s full list of sustainability goals, click here.

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