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On April 8, 2021, JP Morgan Chase launched a new Green Economy specialized team. The team is headed by Managing Director Brian Lehman who recently led the Diversified Financials team within Commercial Banking’s Financial Institutions Group. “The path to a more sustainable future heavily depends on our actions today,” Lehman said.
JPMorgan Chase has started a new strategy for investment. The company is going to finance and facilitate more than $2.5 trillion over 10 years to contribute to sustainable development by financing long-term solutions that address climate change, because “a sustainable economy needs more than just renewable energy.” The long-term target complements the firm’s Paris-aligned financing strategy and will help accelerate the transition to a low-carbon economy by encouraging actions that set a path for achieving net-zero emissions by 2050. The new JP Morgan Chase $2.5 trillion strategy follows two main focuses: $1 trillion intended for accelerating the transition to a low-carbon economy; the firm will finance transactions that support socioeconomic development and quality of life in developing countries following the well-known United Nations Sustainable Development Goals (UN SDGs). As well as a $30 billion commitment to fight racial inequity.
According to Reuters the new Green Economy team will initially focus on four industry sectors: renewable energy, efficiency technology, sustainable finance, and agriculture and food technology. In addition, team members will utilize their expertise to help clients in their operational challenges and expand their green businesses. The team will focus also on providing community-minded financial solutions for clients, including traditional banking services and green bonds. Lehman has declared “by leveraging the brand of JP Morgan and its leadership role we have the ability to support businesses at every single phase of their life cycle, from raising capital in a Series A all the way to crossing the chasm and become publicly traded.”
Sustainable investing is here to stay, see how Physis Investment is also leading the charge.