JP Morgan Chase to go 100% green by 2020

Financial services firm JPMorgan Chase has announced it will source all of its energy needs from renewables by 2020. The company also plans to provide $200 billion (£152.4bn) in global clean […]

Register now!

By Jonny Bairstow

Financial services firm JPMorgan Chase has announced it will source all of its energy needs from renewables by 2020.

The company also plans to provide $200 billion (£152.4bn) in global clean financing up until 2025, in a move it claims is the largest commitment ever made by a financial institution.

As part of the clean energy initiative, the firm plans to install solar panels on up to 1,440 of its retail and commercial buildings around the world.

A single solar installation proposed for the firm’s Polaris Corporate Centre in Ohio could reach a generation capacity of 20MW — enough to power the equivalent of 3,280 homes.

The company also plans to develop a 7MW solar project at a new complex in Texas.

It says retrofitting its branches with 1.4 million new LED lights has already cut lighting consumption by half, equivalent to removing 27,000 cars from the road each year.

The bank is also installing thermal ceiling tiles to reduce heat loss and building management controls to reduce electric and gas consumption by 15% and water consumption by 20%.

The firm plans to offset 40% of its traditional power consumption with wind and solar Power Purchase Agreements (PPAs) in the US.