Aug 1, 2017

JPMorgan Chase sets out ambitious sustainability plans, $200bn pledged

U.S.
Sustainability
James Henderson
2 min
JPMorgan Chase has pledged $200bn towards 'clean financing'
JPMorgan Chase has pledged to source renewable power for 100% of its global energy needs by 2020, and will invest $200bn in clean financing t...

JPMorgan Chase has pledged to source renewable power for 100% of its global energy needs by 2020, and will invest $200bn in clean financing through 2025, the largest commitment by a global financial institution.

The firm said it will achieve its renewable energy goal by prioritising transactions that add new renewable energy to the grids on which it consumes power.

JPMorgan Chase will install renewable energy technology across buildings and branches, sign Power Purchase Agreements with renewable energy projects and reduce energy consumption.

“Business must play a leadership role in creating solutions that protect the environment and grow the economy,” said Jamie Dimon, Chairman and CEO of JPMorgan Chase.

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“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.”

Elaborating on its clean financing spending plans, the organisation said it will build on its history of facilitating and advising on some of the largest clean financings and strategic transactions in the renewable energy sector.

Examples include:

  • Advising clients on leading strategic transactions and capital raises in the renewable energy sector
  • Financing and providing risk management solutions for clients’ renewable energy projects and companies to facilitate new energy, technology, transportation, waste management, and water treatment innovations
  • Underwriting debt with a sustainable use of proceeds for municipal, corporate and multilateral clients
  • Supporting clients’ sustainability initiatives

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May 13, 2021

All but two UK regions failing on school energy efficiency

schools
energyefficiency
Renewables
Dominic Ellis
2 min
Yorkshire & the Humber and the North East are the only UK regions where schools have collectively reduced how much they spend on energy per pupil

Most schools are still "treading water" on implementing energy efficient technology, according to new analysis of Government data from eLight.

Yorkshire & the Humber and the North East are the only regions where schools have collectively reduced how much they spend on energy per pupil, cutting expenditure by 4.4% and 0.9% respectively. Every other region of England increased its average energy expenditure per pupil, with schools in Inner London doing so by as much as 23.5%.

According to The Carbon Trust, energy bills in UK schools amount to £543 million per year, with 50% of a school’s total electricity cost being lighting. If every school in the UK implemented any type of energy efficient technology, over £100 million could be saved each year.

Harvey Sinclair, CEO of eEnergy, eLight’s parent company, said the figures demonstrate an uncomfortable truth for the education sector – namely that most schools are still treading water on the implementation of energy efficient technology. Energy efficiency could make a huge difference to meeting net zero ambitions, but most schools are still lagging behind.

“The solutions exist, but they are not being deployed fast enough," he said. "For example, we’ve made great progress in upgrading schools to energy-efficient LED lighting, but with 80% of schools yet to make the switch, there’s an enormous opportunity to make a collective reduction in carbon footprint and save a lot of money on energy bills. Our model means the entire project is financed, doesn’t require any upfront expenditure, and repayments are more than covered by the energy savings made."

He said while it has worked with over 300 schools, most are still far too slow to commit. "We are urging them to act with greater urgency because climate change won’t wait, and the need for action gets more pressing every year. The education sector has an important part to play in that and pupils around the country expect their schools to do so – there is still a huge job to be done."

North Yorkshire County Council is benefiting from the Public Sector Decarbonisation Scheme, which has so far awarded nearly £1bn for energy efficiency and heat decarbonisation projects around the country, and Craven schools has reportedly made a successful £2m bid (click here).

The Department for Education has issued 13 tips for reducing energy and water use in schools.

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