JP Morgan Chase has pledged to facilitate the largest commitment by a financial institution in the form of a $200 billion clean financing fund through 2025, alongside a transition to 100 percent renewable energy.
JP Morgan, which operates more than 5,500 properties across 60 countries, revealed that it will source renewable power for 100 percent of its global energy needs by 2020. The commitment was issued alongside a pledge to scale sustainability efforts of its 22,000 corporate and investor clients through a $200 billion clean financing pool by 2025.
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.
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.
JP Morgan has already agreed to clean energy transactions totaling $15 billion in 2016.