One of the world’s biggest banking institutions JP Morgan Chase, has pledged to facilitate the “largest commitment” by a financial institution in the form of a $200bn clean financing fund, alongside a transition to 100% renewable energy. JP Morgan, which operates more than 5,500 properties across 60 countries, revealed that it will source renewable power for 100% of its global energy needs by 2020. The commitment was issued alongside a pledge to scale sustainability efforts of its 22,000 corporate and investor clients through a $200bn clean financing pool by 2025. JP Morgan will unveil a plethora of energy-efficiency initiatives to further reduce energy consumption. The firm is conducting the world’s largest LED lighting installation in partnership with the GE-powered firm Current. Around 4,500 branches will be retrofitted with new lighting technologies to cut energy consumption by 15%. To date, 2,500 branched have been retrofitted with 1.4m new LED bulbs, which has cut energy consumption at these branches by 50%. Building Management Systems (BMS) and sensors will also be introduced to reduce electric and gas consumption of branches by 15% and water consumption from irrigation by 20%.
Edie 31st July 2017 read more »