JPMorgan Announces New ‘Green Economy’ CIB Team
(12 April 2021 – Global) JPMorgan has launched a new corporate and institutional banking (CIB) team focused solely on working with enterprises that create environmentally friendly goods and services.
The division is seeking to support corporates that focus on environmental conservation. The team will initially target four sectors:
- Renewable energy
- Efficiency technology
- Sustainable finance
- Agriculture and food technology
The announcement of the new team expands upon JPMorgan’s push to advance sustainable solutions, including the adoption of a Paris-aligned financing strategy in 2020 to help clients navigate the challenges and capitalise on the long-term economic and environmental benefits of transitioning to a lower-carbon world.
COVID-19 has led to an increase in exposure for companies outperforming on environmental, social and governance (ESG) targets. JPMorgan committed US$200 billion to facilitate transactions that support climate action and sustainable development in 2020. Brian Lehman was announced as the head of the ‘Green Economy’ team, bringing over 20 years of experience in sustainable finance to the role.
“The path to a more sustainable future heavily depends on our actions today. At JPMorgan, we’ve seen a growing number of clients and industries whose foundations are built upon reducing greenhouse gas emissions. Our Green Economy banking team will not only deliver industry-specific advice, solutions and services to help green enterprises grow, but will also use our leadership position to promote a more sustainable world” commented JPMorgan Commercial Banking’s Head of Green Economy, Brian Lehman.