Press Release

Firm Launches Center for Carbon Transition

JPMorgan Chase & Co. is launching the Center for Carbon Transition (“CCT”) to provide clients in the Corporate & Investment Bank and Commercial Banking with centralized access to sustainability-focused financing, research and advisory solutions. The CCT will also engage clients on their long-term business strategies and related carbon disclosures. The group will be led by Rama Variankaval, a Managing Director and 18-year veteran of the Firm who also continues to lead J.P. Morgan’s Corporate Finance Advisory team.

 

“The transition to Paris-alignment will require big ideas, technology innovation and financing,” said Rama Variankaval, Head of the Center for Carbon Transition, JPMorgan Chase. “This group will enable us to leverage the best of our expertise and resources across the Firm to help all our clients thrive in a low-carbon future.”

 

Measurement and Industry Engagement

To help advance the transition to a low-carbon economy and track progress towards Paris, the Firm will aim to evaluate its clients’ carbon intensity, which tracks emissions relative to unit of output. When measured over time, carbon intensity provides insight into changes in efficiency and performance. The Firm is also exploring ways to most effectively address all emissions, including Scope 3 emissions, which are relevant for sectors where the majority of GHGs are generated at other points in the supply chain.

 

Additionally, the Firm will continue to engage with other stakeholders and clients on how to strengthen the comprehensiveness and quality of data reported, which remains a challenge, as well as advance policy solutions. As company disclosures improve, JPMorgan Chase remains committed to incorporating the best available information into decision making about its financing activities.

 

For example, earlier this year, the Firm became a Founding Partner of Rocky Mountain Institute’s Center for Climate-Aligned Finance, which is developing practical solutions for financial institutions seeking to pursue the goals of the Paris Agreement in relation to relevant business activities. In addition, JPMorgan Chase is a member of the Climate Leadership Council and Business Roundtable, the latter of which recently published a new set of principles to guide the development of effective climate policy.

 

More information on this announcement and JPMorgan Chase’s sustainability efforts is available on the Firm’s sustainability webpage.