Why JPMorgan Chase has set up a special 'Green Economy' team

Jamie adds: “As a result, we are going to go our own way and make our own independent decisions, gather the best learnings of experts in the field and, of course, we will follow all legal requirements.

Three big challenges

He presents three big challenges for global leaders to think about:

1 – Everyone needs to understand that „we are not there yet to overcome the climate problem, especially taxes, permits, grids, infrastructure development and proper coordination of policies.”

2 – „There is no known technology that can fill the gap between our aspirations and the current trajectory of the world.” Jamie says he hopes and believes it will be discovered – whether through carbon capture, improved batteries, hydrogen or other measures: „This new technology will require proper government research and development funding, as this effort cannot be accomplished by private enterprise alone. .”

3 – „We are going to use the word „commitment” more carefully in the future, clearly distinguishing between aspirations and actively striving towards commitments.”

Jamie writes that the new green economy team is helping JP Morgan Chase „play the right role in tackling the climate challenge.”

Sustainability at the heart of the economy

Tim Perry, JPMorgan Chase's global head of corporate responsibility, said the firm has brought sustainability to philanthropy, government relations, research and policy and community engagement activities to tackle inclusive economic growth as a group.

He writes: “Our integrated model allows us to tap into a wide range of tools and perspectives to address social issues that affect our clients, customers and employees, and to create conditions conducive to the company's continued success.

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„We understand that complex problems cannot be solved by a single grant or meeting, but rather require multifaceted solutions.”

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