JP Morgan is going green: Banking giant commits to using 100 per cent renewable energy by 2020

William Turvill
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JP Morgan also said it would facilitate $200bn of clean financing through to 2025 (Source: Getty)

Global banking giant JP Morgan Chase is going green.

The firm, which operates across more than 60 countries and 5,500 properties, is aiming to solely rely on renewable energy by 2020.

JP Morgan also announced over the weekend that it will facilitate $200bn (£152bn) in “clean financing” through to 2025.

Since 2013, the bank has financed, on average, $16bn per year of clean finance. For example, in 2016, it provided $2bn in tax equity for wind, solar and geothermal projects.

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

“This global investment leverages the firm’s resources and our people’s expertise to make our operations more energy efficient and provide clients with the resources they need to develop more sustainable products and services.”

As part of its 2020 commitment, the bank will be buying power from renewable projects and increase its own generation of energy.

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