JP Morgan Chase to advance $2,5 trillion to advance climate action

JP Morgan

JP Morgan Chase will advance up to $2,5 trillion of investment, over the next 10 years, to advance climate action and solutions to address the climate crisis. The firm intends to bring together its capital to help clients, customers and communities to grow sustainable development.

Firstly, the investment plan aligns with the company’s financing strategy after the Paris Climate Agreement. Aims to accelerate the transition to a low-carbon economy by setting a path for net-zero projects to achieve such a goal by 2050.

Secondly, the investment plan also pretends to expand the attributions of the JP Morgan Development Finance Institution (DFI). Which intends to attract investment to emerging market. With the new plan the DFI will be able to expand investment for social and economic development in an environmentally responsible way.

Thirdly, the $2,5 trillion will be focused in accelerating the development of clean energy solutions. In this regard, the firm will focus at least $1 trillion for green initiatives. The firm will also the firm will continue to provide financing through its Center for Carbon Transition.

Moreover, the firm will finance and facilitate transactions that support socioeconomic development and quality of life in developing countries. Consequently, the firm will mobilize capital to advance the United Nations Sustainable Development Goals (SDGs) in emerging economies.

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JP Morgan pushing for racial equity, affordable housing and healthcare

Furthermore, another objective of the investment target will be on small business financing, home lending and affordable housing, education and healthcare. This includes the firm’s recent $30 billion commitment to advance racial equity.

In addition, Ashley Bacon, Chief Risk Officer, JP Morgan Chase, said. “It is necessary, but not sufficient that as financial institutions covering the whole economy; we play our part. We hope broader developments ranging from public policy to technological advancement will move us further towards a sustainable path.”

On the other hand, Jamie Dimon, Chairman and CEO, JP Morgan Chase, said about the financing plan. “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.”

Finally, he concluded. “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.”

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