In 2017, JPMorgan Chase made two sustainability commitments: to facilitate USD 200 billion in clean financing by 2025 and source renewable energy for 100 percent of its global power needs by 2020. And that firm has reported that both of these goals are expected to be reached by the end of 2020. Now, the financing institution is taking additional steps to address climate change and further promote sustainable development.
This year, it has committed to facilitate USD 200 billion to advance the objectives of the United Nations Sustainable Development Goals (SDGs), including USD 50 billion toward green initiatives that also fulfill the 2017 clean financing target. This new commitment is intended to address a broader set of challenges in the developing world and developed countries where social and economic development gaps persist. These efforts will be focused on the following objectives:
Green: Supporting climate action, clean water and waste management;
Social: Increasing access to housing, education and healthcare; and
Economic Development: Advancing infrastructure, innovation and growth.
The firm aims to increase its sustainable development financing commitment each year. To support the USD 200 billion effort, the firm is expanding its capacity and capabilities by:
The firm has also announced that it is working with Business Roundtable and other trade organizations on market-based policy solutions to address climate change, drive clean energy innovation and protect underserved communities.
Furthermore, to support the market demand for and transition to cleaner sources of energy, the firm is expanding financing restrictions on certain activities to include:
Source: saurenergy.com
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