What happens when a 200-year-old bank partners with a disruptive company? They change the world. J.P. Morgan and Allbirds started working together, and through a number of transactions, their relationship grew into a trusted partnership. So when senior leadership at Allbirds wanted to take their company public, they knew where to turn. Allbirds’ commitment to transforming the retail industry through sustainability needed to be part of their initial public offering. See how J.P. Morgan supported Allbirds along this journey.
Allbirds’ mission is redefining the apparel industry through sustainability.
We always wanted a global banking partner that would allow us to take risks and maybe do something that hadn't been done before. From the beginning, J.P. Morgan was that bank.
What started as the love of a product and then a really good connection as founder and banker led to really an institutional relationship.
We've partnered with them across their commercial bank, their consumer bank, their investment bank. That coupled with their global reach and their long term mentality was such a good fit for us, having the aspirations to be a global brand.
Very few companies disrupt products themselves. Allbirds was different. Allbirds had a view that the materials in their products were better for the environment. They make products with fundamentally different materials than any other company on the planet. And I thought that was really exciting.
Sustainability and our environmental purpose was foundational for our business. It was important to us and we knew to many investors around the world. But there was a lack of clarity on exactly what that meant.
So we set out to create something called a sustainability principles and objectives framework. There isn't a ton of precedent when it comes to integrating ESG into an IPO.
Joey Zwillinger (VO):
We wouldn't have been able to do that without the partnership with J.P. Morgan.
We understand the importance of sustainability as a key driver in the financial markets today. And that helps us advise our clients who embarked on their journey to improve their own ESG credentials.
Allbirds is really committed to getting to net zero as quickly as possible.
One of the key commitments we have at JPMorgan Chase, is to either finance or facilitate two and a half trillion dollars over the next decade supporting sustainable green projects or companies.
It is really natural to take an incredible product like Allbirds, an incredible firm like J.P. Morgan, marry the two together and it's really mutually beneficial to both.
We want to use the experiences we have in working with companies like Allbirds who help companies in other sectors go through their own sustainability journey.
We believe that as this space evolves, J.P. Morgan is incredibly well-positioned to help any other consumer company that's out there that needs that sort of expertize as they grow and scale.
The responsibility of sustainability is not just about minimizing your own impact, but how can you use your platform to help others learn to care about climate?
It's not every day that we get to work with companies that have a fantastic business model, but they're also changing the world at the same time.
It's great to work with a partner like J.P. Morgan, who has that same commitment.
Toyota's record $4.85 billion financing deal, led by J.P. Morgan's investment banking team, is driving its sustainability agenda and shaping the overall corporate transformation.
Targeting relief for embattled developing nations, J.P. Morgan leads $750 million bond financing to help equalize COVID vaccine distribution.
This material (including market commentary, market data, observations or the like) has been prepared by personnel in the Investment Banking Group of JPMorgan Chase & Co. It has not been reviewed, endorsed or otherwise approved by, and is not a work product of, any research department of JPMorgan Chase & Co. and/or its affiliates (“J.P. Morgan”).Any views or opinions expressed herein are solely those of the individual authors and may differ from the views and opinions expressed by other departments or divisions of J.P. Morgan. This material is for the general information of our clients only and is a “solicitation” only as that term is used within CFTC Rule 1.71 and 23.605 promulgated under the U.S. Commodity Exchange Act.
RESTRICTED DISTRIBUTION: This material is distributed by the relevant J.P. Morgan entities that possess the necessary licenses to distribute the material in the respective countries. This material is proprietary and confidential to J.P. Morgan and is for your personal use only. Any distribution, copy, reprints and/or forward to others without permission from, or attribution to, J.P. Morgan is strictly prohibited.
This material is intended merely to highlight market developments and is not intended to be comprehensive and does not constitute investment, legal or tax advice, nor does it constitute an offer or solicitation for the purchase or sale of any financial instrument or a recommendation for any investment product or strategy.
Information contained in this material has been obtained from sources believed to be reliable but no representation or warranty is made by J.P. Morgan as to the quality, completeness, accuracy, fitness for a particular purpose or non-infringement of such information. In no event shall J.P. Morgan be liable (whether in contract, tort, equity or otherwise) for any use by any party of, for any decision made or action taken by any party in reliance upon, or for any inaccuracies or errors in, or omissions from, the information contained herein and such information may not be relied upon by you in evaluating the merits of participating in any transaction. All information contained herein is as of the date referenced and is subject to change without notice. All market statistics are based on announced transactions. Numbers in various tables may not sum due to rounding.
J.P. Morgan may have positions (long or short), effect transactions, or make markets in securities or financial instruments mentioned herein (or options with respect thereto), or provide advice or loans to, or participate in the underwriting or restructuring of the obligations of, issuers mentioned herein. All transactions presented herein are for illustration purposes only. J.P. Morgan does not make representations or warranties as to the legal, tax, credit, or accounting treatment of any such transactions, or any other effects similar transactions may have on you or your affiliates. You should consult with your own advisors as to such matters.
The use of any third-party trademarks or brand names is for informational purposes only and does not imply an endorsement by JPMorgan Chase & Co. or that such trademark owner has authorized JPMorgan Chase & Co. to promote its products or services.
J.P. Morgan is the marketing name for the investment banking activities of JPMorgan Chase Bank, N.A., J.P. Morgan Securities LLC (member, NYSE), J.P. Morgan Securities plc (authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority), J.P. Morgan Securities Australia Limited (ABN 61 003 245 234/AFS Licence No: 238066 and regulated by Australian Securities and Investments Commission) and their investment banking affiliates. J.P. Morgan Securities plc is exempt from the licensing provisions of the Financial and Intermediary Services Act, 2002 (South Africa).
For Brazil: Ombudsman J.P. Morgan: 0800-7700847 / firstname.lastname@example.org
For Australia: This material is issued and distributed by J.P. Morgan Securities Australia Limited (ABN 61 003 245 234/ AFS Licence No: 238066) (regulated by ASIC) for the benefit of “wholesale clients” only. This material does not take into account the specific investment objectives, financial situation or particular needs of the recipient. The recipient of this material must not distribute it to any third party or outside Australia without the prior written consent of J.P. Morgan Securities Australia Limited.