July 31, 2017 Read More →

JPMorgan Chase Commits $200 Billion to Clean Energy Finance Through 2025, Plans 100% Renewable Reliance by 2020

CNBC:

JPMorgan Chase will rely solely on renewable energy by 2020, the company announced Friday.

To meet its goal, the firm will install on-site renewable energy generators, sign power purchase agreements with renewable energy projects and reduce its energy consumption. The firm has property in more than 60 countries that totals approximately 75 million square feet, according to a press release.

The firm also plans to facilitate $200 billion in clean financing through 2025.

JPMorgan will develop on-site solar-power generation at up to 1,400 retail and 40 commercial buildings. The firm will launch a pilot program to install solar panels at Chase branches in California and New Jersey. It will also install large-capacity fuel-cell technology at commercial sites and small-capacity fuel cells at retail sites.

To cut energy consumption, JPMorgan will partner with GE’s Current to install LED lights at about 4,500 Chase branches. It will also work with Current to synchronize building systems, which is expected to reduce energy consumption. JPMorgan will add thermal energy blankets above ceiling tiles in more than $1,700 retail branches.

More: One of the biggest banks is making a big renewable energy commitment

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