JPMorgan Chase says ‘sustainability lies at the heart of long-term economic growth’.
It has pledged to meet 100% of its energy needs from renewable sources by 2020. And this week it announced a package of aligned investments in Detroit, including $900,000 in ‘sustainable infrastructure projects’ and the retrofitting of 70% of its branches in the city.
“Sustainable infrastructure is critical to the efficient and continuous operation of small businesses and to revitalizing commercial activity throughout Detroit,” said Matt Arnold, Global Head of Sustainable Finance, JPMorgan Chase. “We firmly believe that sustainability lies at the heart of long-term economic growth and we are excited about bringing our expertise in advancing environmentally sustainable solutions to Detroit.”
Transforming cities like Detroit, a cornerstone of heavy industry, into green and sustainable urban centres is vital, if climate goals enshrined in the Paris Agreement are to be realised.
Actions by companies like JPMorgan Chase form part of a growing trend of corporate responsibility strategies designed to deliver a sustainable planet. Big business is currently advancing a range of initiatives to achieve this, including a platform to make electric vehicles ‘the new normal’ and a global alliance committed to 100% renewable energy.