Your IndustryAug 1 2017

JPMorgan to go green by 2020

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JPMorgan to go green by 2020
ByHolly Black

JPMorgan Chase has vowed it will only use renewable energy by 2020.

The investment house said renewable power would account for 100 per cent of its global energy needs within three years.

The firm has operations in more than 60 countries including 5,500 properties consisting of around 75m square feet of floor space – the equivalent of 27 times the entire office space of the Empire State Building.

JPMorgan said it would develop on-site solar power generation in up to 1,400 of its retail buildings across the globe. It estimates that solar installation at its largest office, based in Ohio, could provide enough energy to power the equivalent of 3,280 homes.

Jamie Dimon, the company's chairman and chief executive, said: “Business must play a leadership role in creating solutions that protect the environment and grow the economy.”

JPMorgan said it would also facilitate £152.5bn in clean financing by 2025, advising on capital raising for companies within the renewable energy sector and providing financing for energy, technology and transportation businesses.