JPMorgan Chase has pledged to source renewable power for 100% of its global energy needs by 2020, and will invest $200bn in clean financing through 2025, the largest commitment by a global financial institution.
The firm said it will achieve its renewable energy goal by prioritising 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.
“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.”
Elaborating on its clean financing spending plans, the organisation said it will build on its history of facilitating and advising on some of the largest clean financings and strategic transactions in the renewable energy sector.