JPMorgan Chase aims to rely solely on renewables by 2020

JPMorgan Chase aims to rely solely on renewables by 2020

JPMorgan Chase has revealed it intends to rely solely on renewable energy by 2020, and plans to facilitate US$200 billion in clean financing through to 2025.

The global banking giant, which operates across more than 60 countries and 5,500 properties, will install on-site renewable energy generators, including solar power generation at up to 1,400 retail and 40 commercial buildings.

The company will also sign power purchase agreements with renewable energy projects to meet its goal, while reducing energy consumption by installing LED lights at about 4,500 branches.

“Business must play a leadership role in creating solutions that protect the environment and grow the economy,” said CEO Jamie Dimon.

“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.”

Since 2013, JPMorgan has financed an average of $16 billion per year of clean finance, and provided $2 billion in tax equity for wind, solar and geothermal projects during 2016.

@RGNonline