Hong Kong, November 18, 2009 - J.P. Morgan Treasury Services announced today that it has made significant advances in its Asia Pacific 'Go Green" campaign. Since the beginning of 2009, J.P. Morgan Treasury Services in Asia Pacific estimates that it has saved 200 trees by reducing the volume of paper documents printed and by encouraging its clients to use e-statements instead of print statements, with 60% of its client base already converted.
J.P. Morgan's 'Go Green' programme promotes an environmentally friendly future by delivering solutions that remove paper-intensive practices from the treasury operations of its clients, as well as from J.P. Morgan's own processes. The Asia Pacific 'Go Green' campaign is an extension of the company's global effort to minimise its carbon footprint and maximise the usage of its state-of-the-art electronic tools.
The results have been impressive since the programme's global launch in 2008. On a worldwide basis, J.P. Morgan Treasury Services expects to eliminate an estimated 101 million documents from its operational processes by the end of 2009. The reduction has been implemented across a wide range of services, which includes accounts receivable solutions and U.S. Dollar clearing.
Treasury operations have traditionally been paper-intensive environments. Progressive organisations understand that adopting paperless processes will help them reduce environmental impact, save money on fees and increase efficiency.
"Increasing efficiency in treasury management is a key priority for our clients. We help them choose the best processes to save them time and money, while taking an eco-friendly approach to the way we do business. We have also integrated this concept in the cash management and trade finance tools we offer. We want to help our clients understand the direct benefits of choosing green solutions, which not only help protect the environment, but also help increase efficiency and mitigate risk," said Linda McLaughlin-Moore, regional head of product management and delivery - Asia Pacific, J.P. Morgan Treasury Services.
With a dedicated team of professionals to drive this campaign, J.P. Morgan is focused on partnering with clients to implement electronic solutions leveraging existing and emerging technologies, thereby encouraging the treasury operations of corporations and financial institutions to become more environmentally friendly.
J.P. Morgan's clients in Asia Pacific are increasingly adopting new eco-friendly processes supported by advanced technologies that meet their requirements for accuracy, secure transactions and regulatory compliance. Some of the steps they are taking include:
J.P. Morgan's corporate environmental strategy aims to reduce its operational footprint by managing the impact of the bank's internal operations, including its energy use and associated greenhouse gas emissions from facilities and resource consumption such as paper, and emissions from air travel. The strategy also focuses on the development of new products and services to meet the business and environmental challenges of J.P. Morgan's clients, as well as the management of the social and environmental risks in the bank's business transactions.
J.P. Morgan leverages the services and products of its Worldwide Securities Services division, as well as its Investment Bank, Asset Management and Private Bank lines of business to provide its clients with integrated banking solutions.
About J.P. Morgan Treasury Services
The Treasury Services business of J.P. Morgan is a top-ranked, full-service provider of innovative payment, collection, liquidity management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and a presence in 39 countries, J.P. Morgan Treasury Services is one of the world's largest provider of treasury management services and a division of JPMorgan Chase Bank, N.A., member FDIC. More information can be found at www.jpmorgan.com/ts.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. In Asia Pacific, J.P. Morgan operates through 26 offices in 15 countries and has developed its wholesale banking franchise during a history of almost 160 years in the region. More information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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