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1、 2022Environmental Social Governance Report Contents Introduction 1 Message from Our Chairman 2 Company at a Glance 3 Our Approach to ESG 5 Feature:$2.5T Sustainable Development Target 6 Environment 11 Our Approach to Environmental Sustainability 12 Scaling Green Solutions 13 Meeting Needs Responsib
2、ly 17 Minimizing Our Operational Impact 18 Social 24 Feature:Our Racial Equity Commitment 25 Inclusive Growth 30 Diversity,Equity and Inclusion 38 Human Capital 43 Governance 50 Corporate Governance&ESG Oversight 51 Stakeholder Engagement 53 Political Engagement and Public Policy 55 Managing Environ
3、mental and Social Risks 56 Human Rights 56 Data Privacy&Cybersecurity 57 Business Ethics 59 Appendices 61 List of Acronyms 62 Global Reporting Initiative Index 63 Sustainability Accounting Standards Board Index 67 Prohibited Activities and Sensitive Sectors Activities and Locations 70 Introduction J
4、PMorgan Chase has branches across 48 states and Washington,D.C.Pictured:Crenshaw Community Branch,Los Angeles,California 1 Message from Our Chairman The past year has required strength and resilience from so many.It has also shown that the work we do at JPMorgan Chase matters.For the customers and c
5、lients of the Firm,our work is impactful in good timesand is particularly important through challenging times.We strive to be resilient to crisis and to weather the pressure of each day while making strides toward our long-term eforts at sustainable growth and bring-ing value to our shareholders.For
6、 over 200 years,JPMorgan Chase has worked to help our employees,customers and communities turn their aspirations into realities.Our longstanding commitment to integrity,fair-ness and responsibility continues to guide our work today as we help to power the global economy.This years ESG Report explain
7、s how we leverage our business and expertise to help address economic and societal chal-lenges,primarily by supporting our clients and providing tar-geted capital to contribute to an inclusive,sustainable econ-omy.We pursue these initiatives because we truly believe it is right for our customer and
8、communities,not to chase the lat-est fads or trends.In a time of ongoing war,global sanctions and economic uncertainty we strive to help support energy security around the globe,while also accelerating the development and transi-tion to afordable,reliable and lower-carbon energy solutions.We recogni
9、ze the signifcant economic and societal opportuni-ties associated with a successful transition to a low-carbon economy.In 2022,we continued to act on our goal to align our fnancing of key sectorsOil&Gas,Electric Power and Auto Manufacturingwith the goals of the Paris Agreement,and have established t
10、hree new sectoral goals for Iron&Steel,Cement and Aviation.We are targeting$1 trillion by the end of 2030as part of an overall$2.5 trillion sustainable development targetto advance renewable energy and other innovative technologies.And we are minimizing the environ-mental impact of our physical oper
11、ations across thousands of branches,as well as our data centers and corporate ofces.Our business is stronger when our economy is more inclusive.We are striving to advance economic inclusion around the world,including our eforts to help close the racial wealth gap among Black,Hispanic and Latino comm
12、unities in the U.S.through the Firms$30 billion Racial Equity Commitment.Our commitment to advancing racial equity in the U.S.is a long-term journey for the Firm,and we are already thinking of what comes after the fve-year mark.Our people drive our success,and it is through their ingenu-ity,excellen
13、ce and integrity that we seek to build a prosper-ous business.We are investing in the future of the workplace,focusing on well-being and frm culture,and embarking on construction of our new global headquarters in Manhattan,planned to be a zero-emissions building with state-of-the-art space for our e
14、mployees.Our work has seldom been more challenging,or more important,than the last several years.JPMorgan Chase employees,over 290,000 of us,persevere with a grace and fortitude that makes me proud.In this years ESG report,I invite you to read about the work we do to remain resilient and forge meani
15、ngful progress.Jamie Dimon Chairman&CEO,JPMorgan Chase&Co.April 2023 2 INTRODUCTION Message from Our Chairman Company at a Glance Our Approach to ESG Feature:$2.5T Sustainable Development Target ENVIRONMENTAL SOCIAL GOVERNANCE APPENDICES Company at a Glance How We Do Business JPMorgan Chase&Co.(“JPM
16、organ Chase”,the“Firm”or “we”)is a fnancial services company based in the United States of America(“U.S.”),with branches in 48 states and Washington D.C.,293,723 employees in 63 countries worldwide and$3.7 trillion in assets as of December 31,2022.The Firm is a leader in investment banking,fnancial
17、services for consumers and small businesses,commercial banking,fnancial transaction processing and asset man-agement.Under the J.P.Morgan and Chase brands,the Firm serves millions of customers,predominantly in the U.S.,and many of the worlds most prominent corporate,institutional and government clie
18、nts.JPMorgan Chases activities are organized,for management reporting pur-poses,into four major reportable business segments,as well as a Corporate segment.The Firms consumer busi-ness is the Consumer&Community Banking(“CCB”)seg-ment.The Firms wholesale business segments are the Corporate&Investment
19、 Bank(“CIB”),Commercial Banking (“CB”),and Asset&Wealth Management(“AWM”).The business segments are referred to as“lines of business”(“LOB”).For further information,refer to Business Seg-ment Results on pages 6180 of our for the year ended December 31,2022.Form 10-KBUSINESS PRINCIPLES Exceptional cl
20、ient service 1.Focus on the customer 2.Be feld and client driven and operate at the local level 3.Build world-class franchises,investing for the long term,to serve our clients Operational excellence 4.Set the highest standards of performance 5.Demand fnancial rigor and risk discipline;We will always
21、 main-tain a fortress balance sheet 6.Strive for the best internal gover-nance and controls 7.Act and think like owners and partners 8.Strive to build and maintain the best,most efcient systems and operations 9.Be disciplined in everything we do 10.Execute with both skill and urgency A commitment to
22、 integrity,fairness and responsibility 11.Do not compromise our integrity 12.Face facts 13.Have fortitude 14.Foster an environment of respect,inclusiveness,humanity and humility 15.Help strengthen the communi-ties in which we live and work A great team and winning culture 16.Hire,train and retain gr
23、eat,diverse employees 17.Build teamwork,loyalty and morale 18.Maintain an open,entrepreneurial meritocracy for all 19.Communicate honestly,clearly and consistently 20.Strive to be good leaders 3 INTRODUCTION Message from Our Chairman Company at a Glance Our Approach to ESG Feature:$2.5T Sustainable
24、Development Target ENVIRONMENTAL SOCIAL GOVERNANCE APPENDICES Consumer&Community Banking CCB ofers products and services to consumers and small businesses through bank branches,ATMs,digital(including mobile and online)and telephone banking.CCB is organized into Banking&Wealth Management(including Co
25、nsumer Banking,J.P.Morgan Wealth Management and Business Banking),Home Lending(including Home Lending Production,Home Lending Servicing and Real Estate Portfolios)and Card Services&Auto.Banking&Wealth Management ofers deposit,investment and lending products,cash management,payments and services.Home
26、 Lending includes mortgage origination and servicing activities,as well as portfolios consist-ing of residential mortgages and home equity loans.Card Services issues credit cards and ofers travel services.Auto originates and services auto loans and leases.Corporate&Investment Bank CIB,which consists
27、 of Banking and Markets&Securities Services,ofers a broad suite of investment banking,market-making,prime brokerage,lending,and trea-sury and securities products and services to a global client base of corporations,investors,fnancial institutions,merchants,and government and municipal entities.Banki
28、ng ofers a full range of investment banking products and services in all major capital markets,including advising on corporate strategy and structure,capital-rais-ing in equity and debt markets,as well as loan origination and syndication.Banking also includes Payments,which provides payments service
29、s enabling clients to man-age payments and receipts globally,and cross-border fnancing.Markets&Securi-ties Services includes Markets,a global market-maker across products,including cash and derivative instruments,which also ofers sophisticated risk management solutions,prime brokerage,and research.M
30、arkets&Securities Services also includes Securities Services,a leading global custodian which provides custody,fund accounting and administration,and securities lending products principally for asset managers,insurance companies and public and private investment funds.Commercial Banking CB provides
31、comprehensive fnancial solutions,including lending,payments,invest-ment banking and asset management products across three primary client seg-ments:Middle Market Banking,Corporate Client Banking and Commercial Real Estate Banking.Middle Market Banking covers small and midsized companies,local govern
32、-ments and nonproft clients.Corporate Client Banking covers large corporations.Commercial Real Estate Banking covers investors,developers,and owners of multi-family,ofce,retail,industrial and afordable housing properties.Asset&Wealth Management AWM,with client assets of$4.0 trillion,is a global lead
33、er in investment and wealth management.Asset Management ofers multi-asset investment management solu-tions across equities,fxed income,alternatives and money market funds to institu-tional and retail investors providing for a broad range of clients investment needs.The Global Private Bank provides r
34、etirement products and services,brokerage,cus-tody,estate planning,lending,deposits and investment management to high net worth clients.The majority of AWMs client assets are in actively managed portfolios.Corporate The Corporate segment consists of Treasury and Chief Investment Ofce(“CIO)and Other
35、Corporate.Treasury and CIO is predominantly responsible for measuring,mon-itoring,reporting and managing the Firms liquidity,funding,capital,structural inter-est rate and foreign exchange risks.Other Corporate includes staf functions and expense that is centrally managed as well as certain Firm init
36、iatives and activities not aligned to a specifc LOB.The major Other Corporate functions include Real Estate,Technology,Legal,Corporate Finance,Human Resources,Internal Audit,Risk Management,Compliance,Control Management,Corporate Responsibility and vari-ous Other Corporate groups.Information about J
37、PMorgan Chases fnancial performance is available in our quar-terly earnings materials,as well as quarterly and annual reports on Form 10-Q and Form 10-K,respectively.About This Report This ESG Report is designed to consolidate and summarize our work on ESG topics that are important to our business a
38、nd stakeholders,and guide readers to where they can access more detailed information about specifc topics of interest.All data in this report is as of December 31,2022,unless other-wise noted.This report has also been informed by the Global Reporting Initiative(GRI)and relevant Sector Standards,as w
39、ell as the Sustainability Accounting Standards Board(SASB)reporting standards.Our ESG Report Appendices(see pages 6369)on GRI and SASB map our Firms disclosures related to these frameworks indicators and recommendations.Our Firm communicates information about our ESG practices and performance throug
40、h a number of channelsincluding our Annual Report and Proxy Statement,ESG and Climate reports,regulatory flings,our website,press releases,direct conversations with stakeholders,and various other reports and presentations.We maintain a dedicated ESG Information page on our website to facilitate acce
41、ss to information that we publish on these topics.4 INTRODUCTION Message from Our Chairman Company at a Glance Our Approach to ESG Feature:$2.5T Sustainable Development Target ENVIRONMENTAL SOCIAL GOVERNANCE APPENDICES Our Approach to ESG The fnance sector has an important role to play in helping to
42、 address some of the most pressing environmental and social (“E&S”)challenges of our time,primarily by supporting its cli-ents and providing targeted capital to help scale solutions.Building of the foundation of our Business Principles,we are leveraging our expertise,capital,data and resources to ad
43、vance inclusive growth,promote sustainable development,and support the transition to a low-carbon economy.Environ-mental,Social and Governance(ESG)matters are an import-ant consideration in how we do business,including how we develop our products and services,serve our customers,sup-port our employe
44、es and help lift our communities.Our approach to ESG is supported and strengthened by our ongoing eforts to enhance accountability,transparency and engagement.Additionally,we strive to leverage the Firms robust governance structures to foster sound management and a culture of accountability on ESG m
45、atters.This includes defning oversight and management of ESG matters within and across our lines of business.Our Key ESG Topics In 2022,JPMorgan Chase undertook a process to identify and assess which ESG top-ics are most pertinent to our business,operations and stakeholders.In doing this work,we eng
46、aged with internal stakeholders and subject matter experts,and retained the services of an external consultant.The foregoing process and identif-cation of key ESG topics was undertaken for the purposes of informing our ESG reporting;our inclusion of topics in this report is diferent from disclosures
47、 under mandatory regulatory reporting,including under U.S.Securities and Exchange Com-mission(“SEC”)regulations.To identify our key ESG topics,we undertook the following:External research:including conducting a high-level review of key ESG trends that apply to the Firm and assessing relevant topic a
48、reas identifed by voluntary ESG dis-closure frameworks,ESG raters and rankers,and industry best practice,with the aim of identifying a list of potential ESG topics.Engagement:with internal stakeholders and subject matter experts from across the Firm to evaluate the potential list of ESG topics.We as
49、ked subject matter experts questions about what topics they view as important to the Firm and its key stake-holders,including how these topics may impact or be impacted by certain busi-ness-related metrics.Evaluation:of insights gained from internal stakeholder engagement by analyzing fndings to pri
50、oritize topics.When evaluating potential ESG topics,we also consid-ered business-related metrics including operational costs,revenue,regulation/com-pliance,reputation and strategy.Our process identifed the following as our key ESG topics:ENVIRONMENTAL Climate Change Climate Policy Engagement Operati
51、onal Environmental Footprint Responsible Investment and Financing Transition to Low-Carbon EconomySOCIAL Consumer Financial Protection Community Development Diversity,Equity,Inclusion and Equal Opportunity Human Capital Development Wages/RemunerationGOVERNANCE Board GovernanceClimate RiskCybersecuri
52、tyData PrivacyEconomic PerformanceEnterprise Risk ManagementESG ComplianceEthical Business PracticesGeopolitical RiskPolitical Engagement,Public Policy andLobbyingResponsible Marketing and LabelingStakeholder EngagementSuccession PlanningIn addition to the key topics above,we identifed other ESG top
53、ics that are also import-ant to our business and stakeholders.These additional topics included:Active Ownership,Biodiversity and Natural Capital,ESG Governance and Reporting,Human Rights and Modern Slavery,Innovation and Digitalization,and Just Transition.5 INTRODUCTION Message from Our Chairman Com
54、pany at a Glance Our Approach to ESG Feature:$2.5T Sustainable Development Target ENVIRONMENTAL SOCIAL GOVERNANCE APPENDICES Feature:$2.5T Sustainable Development Target We believe creating sustainable economic growth is important to the long-term strength and vibrancy of the global economy,as well
55、as to the health and prosperity of people and communities around the world.As a global fnancial institution,we are leveraging our capabilities to provide capital and e xpertise for our clients and cus-tomers to support economic growth and address key global challenges.In 2021,we set our Sustainable
56、Development Target(the“Target”)with the goal to fnance and facilitate more than$2.5 trillion over 10 yearsfrom 2021 through the end of 2030 to advance long-term solutions that address climate change and contribute to sus-tainable development.Our end-of-2030 goal corresponds with the timeframe we set
57、 to meet our initial emission intensity reduction targets within our fnancing portfolio (see page 17),as well as the timeframe set by the United Nations for achieving the United Nations Sustainable Development Goals(“SDGs”).The Target aims to grow and strengthen our business activities across three
58、important objectivesGreen,Devel-opment Finance and Community Developmentand,at the same time,highlight the work were doing through our lines of businesses and Racial Equity Commitment.The Target refects the Firms global,diversifed franchise,incorporating activity across both our retail and wholesale
59、 banking segments.We are focused on areas where we believe our capabilities and expertise can help advance sustainable and inclusive growth around the world.We also prioritize topics that are important to our stakehold-ers,including customers and clients,employees,communities and shareholders.In dev
60、eloping the Targets criteria and methodology,we also took into account inter-national best practices and industry standards,such as the SDGs,the International Capital Market Associations Green and Social Bond Principles,and the International Finance Corporations Anticipated Impact Measurement and Mo
61、nitoring system.Green Aiming to drive climate action,clean energy,and sustainable resource management,with a focus on accelerating the deployment of solu-tions for cleaner sources of energy and facili-tating the transition to a low-carbon economy.We are targeting$1 trillion toward this area by the e
62、nd of 2030.Development Finance Working to support socioeconomic develop-ment in emerging economies,with a focus on mobilizing capital to advance the United Nations Sustainable Development Goals.Community Development Striving to advance economic inclusion in devel-oped markets,with a focus in the Uni
63、ted States on Low-to-Moderate Income individuals and commu-nities and closing the racial wealth gap among Black,Hispanic and Latino individuals and com-munities.This includes many of the actions we are taking as part of our Racial Equity Commitment.The Firm supports solutions that help address clima
64、te change and contribute to sustainable development.Pictured:Dallas,Texas 6 INTRODUCTION Message from Our Chairman Company at a Glance Our Approach to ESG Feature:$2.5T Sustainable Development Target ENVIRONMENTAL SOCIAL GOVERNANCE APPENDICES Progress Toward the Target We track progress toward our T
65、arget by attributing business activity across the Firm that supports our Targets objectives.These business activities include transactions fnanced or facilitated by the Firm and those for which we are pro-viding advisory,risk management and other facilitation services.Progress toward our Target,like
66、 our other ESG-related initiatives,is subject to certain prerequisites,including market conditions,public policy and technological advance-ment.Our fnancing and advisory initiatives are also subject to the same macroeco-nomic conditions that impact our franchise and the broader fnancial markets.In 2
67、022,our progress toward our Target was characterized by a challenging mac-roeconomic environment.Volatile market conditions,including rising rates con-tributed to slower progress toward our Target compared to 2021.T he challenging macroeconomic environment was not limited to sustainable development
68、activi-ties.For example,according to Dealogic1,global investment banking fees in 2022 were down 42%compared to 2021.We saw a similar,but lesser,decline in Invest-ment Banking activities counted toward our Target.Market conditions,public pol-icy and technological advancement will continue to have an
69、impact on our results,and as such,we do not expect our progress over the decade to be linear.In line with the Firms approach for the rest of our business,we do not manage the Target focused on short term results,but rather,focused on positioning our-selves to drive long term progress.At JPMorgan Cha
70、se,we are focused on sup-porting our clients through the cycle in both good times and badincluding in their sustainable development ambitionsand remain committed to playing our part to advance sustainable development.In 2022,our Firm fnanced and facilitated approximately$197 billion toward the Targe
71、t;$70 billion toward green,$87 billion toward development fnance and$40 billion toward community development.Collectively,since 2021,we have fnanced and facilitated$482 billion toward our Target,including$176 billion toward our$1 trillion green target.In this section we discuss our progress in each
72、objective through December 31,2022.To learn more about our criteria for determining what business activity is eligible to count toward our Sustainable Development Target and how we account for the value of transactions,see Our Approach to Our Sustainable Development Target,updated and efective as of
73、 January 1,2023.$285B$2.5TBy the end of 2030 2021$197B$482B|19%Since 2021 Note:Totals may not sum due to rounding.2022$176BGreen$204BDevelopment Finance$102BCommunity Development$482BTOTAL$70BGreen$87BDevelopment Finance$40BCommunity Development$197BTOTAL$229BCIB Investment Banking$169BCIB Markets$5
74、4BCCB$30BCB$482BTOTAL CUMULATIVE PROGRESS(20212022)ANNUAL PROGRESS(2022)PROGRESS TOWARD 10-YEAR TARGET$95BCIB Investment Banking$68BCIB Markets$19BCCB$14BCB$197BTOTAL OUR APPROACH TO TRANSACTIONS THAT SUPPORT MULTIPLE OBJECTIVES The three objectives of our TargetGreen,Development Finance,and Communi
75、ty Developmentrefect our belief that creating sus-tainable economic growth requires advancing environmental,eco-nomic and social goals.When tracking these transactions to our Target,we count transactions only once and toward only one objective in the following order(as applicable):Green,Develop-ment
76、 Finance or Community Development.With this approach,we seek to avoid double counting,simplify tracking toward our prog-ress,and create clarity in our disclosures.We disclose more infor-mation on a few of these key areas in the coming sections,such as how we track and count Sustainability Bonds and
77、certain JPM DFI activity toward our Green objective.We aim to be transparent in our methodology and may recalibrate our approach over time.Our work with the National Rural Utilities Cooperative Finance Corporation(“CFC”)provides an example of the mutual benefts that can be created by simultaneously
78、supporting the advance-ment of environmental and social issues.CFC,created and owned by the U.S.s electric cooperative network,is a nonproft,private lender focused on providing fnancing to over 900 rural electric cooperatives in the U.S.Electric cooperatives,which trace their origin back to the U.S.
79、federal governments New Deal Initiative,were created by farmers and local residents to provide afordable and dependable electricity in rural communities.In August 2022,JPMorgan Chase served as joint book-running manager on CFCs$400 million sustainability bond,the proceeds of which CFC plans to use t
80、o support broadband access for underserved and rural populations in the United States.Prior to this,in 2020,JPMorgan Chase also served as joint book-running manager and sustainabil-ity bond structuring agent for CFCs inaugural sustainability bond.These two issuances represent the only sustainability
81、 bonds so far in the electric cooperative sector.1 Source:Dealogic Quarterly Rankings,IB Revenue,Full Year 2022 7 INTRODUCTION Message from Our Chairman Company at a Glance Our Approach to ESG Feature:$2.5T Sustainable Development Target ENVIRONMENTAL SOCIAL GOVERNANCE APPENDICES Green Our$1 trillio
82、n green objective is intended to support climate action and sustainable resource management.Developing solutions sufcient to meet the climate challenge will require signifcant capital,including capital to deploy and scale clean energy solutions to meet the worlds growing energy needs.Capital is also
83、 required to promote the sustainable management of resources,including water and forests.These aims support each other;some actions that address cli-mate change,such as reforestation,also have positive impacts on nature,biodiversity and the sustainable management of resources.Eligible green activiti
84、es include areas such as renewable and clean energy,clean technology,sustainable transportation and water management.In 2022,we fnanced and facilitated approximately$70 billion in support of our green objective,particularly through green bond underwriting and for renewable energy.We support green ac
85、tivities through a variety of business activities around our Firm,such as raising capital for clean technology companies and providing consumer auto fnancing for electric vehicles.Many of the eligible transactions counted toward our green objective can be used for multiple eligible activities(e.g.,a
86、 green bond where proceeds can be used for both renewable energy and water)and are therefore cat-egorized as“multiple criteria.”We show a breakdown of the types of transactions included in the multiple criteria cate-gory in the pie chart on page 8.OUR TARGET IN ACTION:ENEOS HOLDINGS INC.CASE STUDY J
87、PMorgan Chase served as acquiror advisor in a$1.7 billion M&A transaction for ENEOS Corporation,Japans largest downstream oil and gas company.ENEOS acquired Japan Renewable Energy Corporation(“JRE”),a developer of solar projects,as well as onshore and ofshore wind projects in Japan.JRE has been one
88、of the leading renewable energy companies in Japan that engages in renewable power generation business across the full value chain,from project development to operation and maintenance of renewable power plants.The deal not only helps ENEOS make progress toward its own net-zero emission by 2040 targ
89、etwhich includes reduction of Scope 1 and 2 emissions through GHG reduction at oil refneries,carbon capture and storage,and CO2 removal,such as forecast absorptionbut also helps ENEOS to achieve a 2050 target:to work together with the Japanese government and other companies to reduce Scope 3 emissio
90、ns by supplying clean energy,such as renew-able energy and CO2-free hydrogen.The ENEOS deal stands as an example of our work supporting the transition of carbon intensive clients to the low-carbon economy,and won the Mergermarket Japan M&A deal of the year.PROGRESS TOWARD THE 10-YEAR GREEN TARGET$17
91、6B|18%Since 2021$1TBy the end of 2030$106B2021$70B2022 CUMULATIVE GREEN PROGRESS BY LINE OF BUSINESS 2021$B 2022$B$51$17$2$1$70 Total$B CIB Investment Banking$72$123 CIB Markets$32$49 Commercial Banking$1$3 Consumer and Community Banking$1$2 Green Total$106$176 CUMULATIVE GREEN PROGRESS BY ELIGIBILI
92、TY CRITERIA 2021$B2 2022$B Total$B Sustainable Transportation$22$2$24 Renewable and Clean Energy$15$20$35 Water Management$6$2$8 Circular Economy and Waste Management$0$1$1 Green Buildings$2$4$6 Clean Technology$0$4$4 Multiple Criteria$61$37$98 Green Total$106$70$176 2022 PROGRESS IN“MULTIPLE CRITER
93、IA”TOTAL$37B$23B Green Bonds$11B Sustainability Bonds$3B Emissions Contracts 50%of the rental units are noted as afordable based on current rent levels of each unit and county area median income(“AMI”).Borrowers in the Preservation Program beneft from a graduated interest rate discount to maintain r
94、ental unit afordability and must re-qualify annually.26 INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our Racial Equity Commitment Inclusive Growth Diversity,Equity and Inclusion Human Capital GOVERNANCE APPENDICES Racial Equity Commitment Program-To-Date Progress Through 2022 Data provided below is thr
95、ough December 31,2022.For further details on dollar and unit progress,eligibility criteria,and reporting methodology,see the detailed Racial Equity Commitment data table on our website.Commitment Pillar In Units In Dollars($M)EXPANDING AFFORDABLE RENTAL HOUSING AND SUPPORT FOR VITAL COMMUNITY INSTIT
96、UTIONS Through our Commercial Term Lending Afordable Housing Preservation Program,provide$10 billion to incentivize the preservation of 100,000 designated afordable housing rental units16 169,381$18,295.8 Expand Commercial Term Lending to government-subsidized afordable housing programs to help pres
97、erve an incremental 22,000 units of afordable housing 4,358$439.8 Fund an incremental$1 billion of construction and rehabilitation of 5,000 afordable housing units for low-and moderate-income households 7,504$3,884.2Fund an incremental$1 billion of loans and 7,000 afordable rental units through deve
98、lopment of Agency and Of-Balance Sheet Lending through government-sponsored enterprise partnerships 1,464$155.7 Fund an incremental$500 million in New Market Tax Credits(“NMTC”)N/A$312.2 Fund$500 million in long-term investments in Preservation Funds N/A$138.7 Increase Low Income Housing Tax Credit(
99、“LIHTC”)investments by an incremental$2 billion17 N/A$1,179.6 INCREASING HOMEOWNERSHIP AMONG BLACK,LATINO,AND HISPANIC HOUSEHOLDS INCLUSIVE OF ALL INCOME LEVELS Originate an incremental 40,000 home loans worth$8 billion,over and above the Firms 2019 baseline(2,673)$764.7 Refnance an incremental 20,0
100、00 home loans worth$4 billion,over and above the Firms 2019 baseline 14,240$3,352.6 GROWING SMALL BUSINESSES Provide an incremental$2 billion and 15,000 in loans to businesses in majority-Black and Latino/Hispanic communities,over and above the Firms 2019 baseline (3,164)$(1,175.9)SPENDING MORE WITH
101、 BLACK,HISPANIC AND LATINO SUPPLIERS Spend an additional$750 million with Black,Hispanic and Latino suppliers N/A$556.0 IMPROVING FINANCIAL HEALTH AND ACCESS TO BANKING Help 1 million customers open low-cost checking accounts 406,495 N/A Open 14 Community Center Branches in underserved communities 1
102、3 N/A Hire 150 Community Managers 146 N/A Open 100 branches in low-to moderate-income(“LMI”)communities 76 N/A INVESTING IN MINORITY DEPOSITORY INSTITUTIONS AND COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS Provide an incremental$300 million of fnancing to Community Development Financial Institutions
103、(“CDFIs”)N/A$210.6Invest$100 million in the form of capital and deposits to Black,Hispanic and Latino-owned or-led MDIs and CDFIs18 N/A$106.0 PHILANTHROPY Provide$2 billion in philanthropic capital to advance an inclusive economic recovery and support Black,Hispanic,Latino and underserved communitie
104、s N/A$709.9 TOTAL$28,929.8 16 Borrowers(building owners or operators)in the Preservation Program beneft from a graduated interest rate discount,which facilitates their maintaining rental unit afordability.Afordability targets under the Preservation Program are tiered based on current rent levels of
105、each unit and county area median income.17 Following the investment of$400 million in 2020,the Firm increased its LIHTC commitment to target an incremental$400 million annually,totaling$2 billion over fve years.This change increased the Firms total committed amount toward its Racial Equity Commitmen
106、t.The increase does not impact the Firms other stated commitments.18 Includes one fnancial institution that provides products and services to MDIs and CDFIs to support Black,Hispanic and/or Latino communities.Program Highlights$18 billion toward Aordable Housing Preservation Program$4 billion for th
107、e construction and rehabilitation of aordable rental housing$1 billion committed in incremental Low Income Housing Tax Credits investments 14,000 incremental home loans refinanced for Black,Hispanic and Latino homeowners at all household income levels406,000 net new low-cost checking accounts with n
108、o overdraft fees 146 community managers hired 13 Community Center branches opened 76 branches opened in low-to-moderate income areas 27 INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our Racial Equity Commitment Inclusive Growth Diversity,Equity and Inclusion Human Capital GOVERNANCE APPENDICES Our Commi
109、tment in Action THE ASBERRY AT BARRY FARM JPMorgan Chase provided a$32.3 million construction loan and$9.5 million of long-term fnancing toward the con-struction of The Asberry,a mixed-use building with 108 age-restricted afordable housing units at Barry Farm in 2022.Barry Farm is a historic communi
110、ty in Washington D.C.,that was established in 1867 for formerly enslaved Black Americans to own land after the Civil War.The Asberry is expected to be completed in 2024 and represents a redevelopment that will help a community thrive.JPMorgan Chases loans to Barry Farm are an example of the incremen
111、tal fnancing to support the construction and rehabilitation of afordable housing across the United States.A PHILADELPHIAN BECOMES A FAMILYS FIRST HOMEOWNER At an event in Philadelphia,a JPMorgan Chase Community Manager helped connect a retiring landlord and a Black frst-time homebuyer.With guidance
112、from his JPMorgan Chase Community Home Lending Advisor,the buyer learned he qualifed for two grants,a$15,000 grant from Neighborhood LIFT and the$5,000 homebuying grant,for purchasing in an under-served community.With these grants,the homebuyer closed on the unit in December 2022,becoming the frst h
113、omeowner in his family.The Firm is leaning on its resourcesits presence in branches,its community-focused workforce,its grants,and moreto expand access to afordable homeownership and help reduce the homeowner-ship gap for Black,Hispanic and Latino households.ALPHA COMPANY MARKETING AND MEDIA LLC JPM
114、organ Chase provides a range of development and collaboration opportunities for qualifed diverse businesses from historically underrepresented groups.In 2022,JPMorgan Chase helped Alpha Company Marketing and Media LLC,a bilingual digital marketing company,grow its business through its Chase minority
115、-owned business mentorship program.The Houston-based,Latino-owned company gained eight business certifcations and acceptance into JPMorgan Chases Supplier Diversity Network.As a result of the Firms Mentorship Program,Alpha Company Market-ing and Media LLC reported growth in their client portfolio th
116、at resulted in increased revenues.Accountability and Transparency in Meeting Our Commitment We are holding ourselves accountable to achieving our Racial Equity Commitment.To that end,we have established a robust reporting and governance process to track our commitments and will continue to publicly
117、share our progress.The Firms Community Impact Team is responsible for program-wide oversight and governance of the Racial Equity Commitment.Our lines of business,each of which is responsible for its commitment results and adherence to its governance framework,are accountable to both their respective
118、 Chief Executive Ofcer(CEO)and the Community Impact Team.The Community Impact Team partners with market business leaders to deliver resources and activations at the local level.These market business lead-ers include CEOs from each line of business and senior executives from applicable corporate func
119、tions.This is done in coordina-tion with the Firms Public Engagement team,which connects with external stakeholders,including civil rights organizations,consumer policy groups,nonproft organizations,civic leaders,trade associations,and diverse chambers of commerce for opportunities to collaborate.Th
120、e Public Responsibility Committee of the JPMorgan Chase Board of Directors provides oversight of this work and is briefed on the Firms progress.In 2022,to reinforce the Firms commitment to transparency,JPMorgan Chase retained an independent accountant to perform an independent attestation examinatio
121、n of the reported progress toward the Racial Equity Commitment.The decision to retain an independent accountant was made following engagement with shareholders and was informed through the frms ongoing engagement with external civil rights and economic justice advisors.The Public Responsibility Comm
122、ittee of the JPMC Board of Directors provided oversight of the attestation engagement.The attestation examination was performed in accordance with the standards established by the American Institute of Certifed Public Accountants.Their report includes an unqualifed opinion that managements assertion
123、 regarding progress in disbursed and/or committed dollars and progress in units toward the Firms Racial Equity Commitment is fairly stated,in all material respects;please see the 2022 Racial Equity Commitment Audit Report.The preparation for and completion of the independent third-party attestation
124、examination has been a valuable process that will enhance future reporting.As we execute on our commitment,we will continue to report against our progress publicly.28 INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our Racial Equity Commitment Inclusive Growth Diversity,Equity and Inclusion Human Capital
125、GOVERNANCE APPENDICES Our Journey and The Road Ahead The Firms commitment to community revitalization and underserved and low-income households did not begin with the Racial Equity Commitment.Rather,the Racial Equity Commitment was born out of years of leveraging our resources to uplift customers an
126、d communities.These experiences include our eforts in Detroit following its bankruptcy,the implementation of our AdvancingCities program across the globe,and the formation of our PolicyCenter to develop evidence-based policy solutions to expand inclusive economic opportunity.Our history of advancing
127、 equity has positioned our Firm to execute the complex,multi-faceted$30 billion commitment.As our Firm progresses in its commitment,we have realized that this journey is ongoing and will not be limited to fve years.Rather,our work over the past two years has served as a catalyst to realize even more
128、 opportunities to advance racial equity.Our commitment to closing the racial wealth gap will remain,no matter what headwinds and economic uncertainties we face.We continue to see innovations born out of the Racial Equity Commitment.As announced in February 2021,our Empow-ering Change program provide
129、s Minority Depository Institutions exclusive distribution rights to J.P.Morgans suite of institutional money market funds through the creation of the Empower share class.This approach provides these insti-tutions with a recurring revenue opportunity and amplifes their ability to deliver ongoing posi
130、tive change in their com-munities.At the same time,corporate investors can support the socioeconomic goals of minority-and diverse-led fnancial institutions.It is an innovation that helps support DEI goals of corporate investors and lifts those who have historically been left behind.In two years,our
131、 Firm has nearly met its initial$30 billion commitment toward advancing racial equity.Yet,we are aware of the work that remains,both in meeting each of our individual commitments,and for our country as a whole.For this reason,we are committed to continuing this work and measuring its outcomes to hel
132、p advance lasting racial equity and make meaningful contributions to closing the racial wealth gap.By providing fnancial tools,products,and services,the Firm aims to help close the racial wealth gap,consistent with our belief that our business is stronger when our economy is more inclusive.Chase Com
133、munity Branches such as this Little Havana location in Miami,Florida,help improve access to banking services.29 INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our Racial Equity Commitment Inclusive Growth Diversity,Equity and Inclusion Human Capital GOVERNANCE APPENDICES Inclusive Growth Our Firm believe
134、s that we are only as strong as the communi-ties we serve and the economies they support.That is why JPMorgan Chase is helping build opportunities in neighbor-hoods and communities across the U.S.and the globe.We understand we can play a role in helping to drive local econo-mies,helping communities
135、grow and building personal prosper-ity.This is particularly important during challenging times.As we navigate through economic instability,war,climate change and the long-term efects of the pandemic,we continue to help build a more sustainable,inclusive economy.Our eforts are focused where we believ
136、e we can leverage our business and expertise to create meaningful impact,including through:Building careers and skills Fueling business growth and entrepreneurship Catalyzing community development Strengthening fnancial health and wealth creation Promoting environmental sustainability within our com
137、munities We are bringing the reach and expertise of our Firm to take on these challenges,using the power of our businesses com-bined with philanthropic capital,data-driven insights and pol-icy expertise.Underpinning and informing all these eforts is our Firms commitment to DEI and sustainable develo
138、pment.HOW OUR FIRM IS MAKING AN IMPACT Lending and investment capital Philanthropic capital Policy expertise and advancement,led by JPMorgan Chases PolicyCenter Data insights and analytics,led by the JPMorgan Chase Institute Skills and talents of our employees CASE STUDY SUPPORTING THE PEOPLE OF UKR
139、AINE As the war in Ukraine continues,a growing number of people have been left without access to basic needs and millions of refugees and internally displaced individuals have fed their homes in Ukraine.To support humanitarian relief eforts in Ukraine,JPMorgan Chase committed up to$10 million in phi
140、lanthropic capi-tal in 2022,including more than$1.5 million in employee matching donations,the largest disaster giving campaign in the Firms history.Our commitment supports a number of organizations working to provide emergency food,housing and medical services to those in need,including working wit
141、h select humanitar-ian relief organizations such as International Medical Corps,International Rescue Committee,Polska Akcja Humanitarna,UNICEF and World Central Kitchen.As part of our commitment,we provided$5 million to support the Chamber of Commerce of the Polish Hotel Industry as they worked to p
142、rovide temporary shelter for over 1,400 refugees in Poland through access to hotel rooms,as well as information and guidance on access to other assistance including medical care,child-care and longer-term housing,in coordination with member hotels,nonprofts and local governments.The Firms support al
143、so reaches beyond our philanthropic eforts.We ofered 50 Ukrainian refugees the opportunity to join a work and training program focused on upskilling people displaced by the war to work in areas including fnance,human resources and operations in our Warsaw ofce.JPMorgan Chase continues to monitor the
144、 humanitarian crisis in Ukraine to consider how we can best deploy our resources to meet growing and changing needs in the region.30 INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our Racial Equity Commitment Inclusive Growth Diversity,Equity and Inclusion Human Capital GOVERNANCE APPENDICES Building Car
145、eers and Skills JPMorgan Chase is supporting job-seekers by equipping them with the tools and skills they need to grow,advance and be ready for the future of work.We do this by supporting and developing certifcation programs,skills training and policy solutions that connect job seekers to well-payin
146、g and stable jobs at our Firm and in communi-ties around the world,with a focus on young,minority and non-traditional job seek-ers.In 2019,we made a$350 million,fve-year philanthropic commitment focused on creating economic mobility and career pathways for underserved populations.We are also applyin
147、g insights from our work in the community to our own hiring,DEI and employee development programs to create more pathways into and across our Firm.This includes identifying certifcations,credentials and other training that will prepare employees for changes in technology and business,and allow them
148、to com-pete for new and in-demand roles in our Firm.2022 HIGHLIGHTS Mentoring and Work Experience for Young People:Through The Fellowship Initia-tive(“TFI”),we engage young men of color in high school in academic and proj-ect-based learning activities,college and career planning and leadership devel
149、op-ment opportunities,all with the goal of helping them successfully complete high school and prepare for college and career success.In 2022,TFI served over 600 Fel-lows across seven U.S.citiesNew York City,Chicago,Los Angeles,Dallas,Houston,Oakland,and Washington D.C.and since its inception in 2010
150、,over 600 JPMorgan Chase employees have volunteered and matched to be mentors with TFI Fellows to provide coaching,academic support and leadership development.In the U.K.,our Firms Aspiring Professionals Programme,run in collaboration with the Social Mobil-ity Foundation,supports talented young peop
151、le from low income backgrounds with work experience,mentoring and skills sessions to equip them with skills to succeed in their future careers.Since launching in 2010,over 800 young people have been supported,86%of which began full-time employment 15 months after graduation.HBCU Career Pathways Init
152、iative:Since the initiative began in 2020,we have committed nearly$7 million to the creation of high-quality career pathways to prepare students at historically Black Colleges and Universities(“HBCUs”)for high-wage,in-demand careers.The commitment has included over$3 million in philanthropic capital
153、 provided directly to five HBCUs and over$3.5 million to the United Negro College Fund to provide capacity building and long-term strategic planning support to eight HBCUs.Our HBCU Career Pathways Initiative is supporting the formation of co-op programs,the hiring of success coaches to support stude
154、nts career navigation,the expansion of university-employer relationships,the creation of work-based learning and internship opportunities for students,the development of high-quality data science programming,and the preparation of students for careers in financial services.Support for Community Coll
155、eges and Non-Traditional Students:With open admis-sions policies and lower costs relative to other institutions,community colleges play an important role in helping to bridge the wealth gap and create pathways to eco-nomic mobility by providing economically and demographically diverse communities wi
156、th access to education and career opportunities.In 2019,JPMorgan Chase com-mitted$125 million in philanthropic capital to strengthen the capacity of community colleges across the U.S.Additionally,the Firm continues to emphasize the value of skills in addition to educational degrees,with more informa
157、tion on our skills-based hiring on page 44.Career Readiness Programs:In 2020,JPMorgan Chase announced the Global Career Readiness Initiative,a$75 million,fve-year global initiative to expand access to economic opportunity for young underserved people by supporting pathways and policy solutions that
158、better prepare them for the future of work.As part of this ini-tiative in the U.S.,the Firm is providing$7 million over fve years,beginning in 2020,to six U.S.citiesBoston,MA;Columbus,OH;Dallas,TX;Denver,CO;Indianapolis,IN;and Nashville,TN,to foster collaboration,infrastructure building,and systems-
159、level change between local school districts,higher education institutions,and business communities.As a result,each city is developing high-quality career pathways in industries like healthcare,information technology,engineering,advanced manufac-turing,education,and business that are aligned with lo
160、cal labor market trends and employer demand.JPMorgan Chase also invests in career readiness initiatives out-side the U.S.In 2022,JPMorgan Chase launched four new career readiness initiatives in India,Brazil,France and Italy.These initiatives aim to support broad systems change by scaling innovative
161、solutions and developing high-impact approaches to inform policy reforms.In 2022,the Firm also renewed its collaboration with the Organization for Economic Cooperation and Development Directorate for Education and Skills to conduct analyses of efective and equitable career readiness policies and pro
162、grams for students,and disseminate them globally with policy makers.JPMorgan Chase is working to create career pathways to prepare students at HBCUs for high-wage,in demand careers.Pictured:Dallas,Texas 31 INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our Racial Equity Commitment Inclusive Growth Divers
163、ity,Equity and Inclusion Human Capital GOVERNANCE APPENDICES CASE STUDYPROVIDING A SECOND CHANCE The U.S.has more job openings than applicants,yet some qualifed candidates face obstacles to securing a good job:people with criminal records.Approximately one in three working-age adults in the U.S.has
164、a criminal record19,and as a result,face economic barriers including hiring dis-crimination and lost job opportunities.JPMorgan Chase is giving people with criminal records a second chance by supporting their participation in the workforce,communities and local econo-mies.We have made changes in our
165、 own hiring and recruitment practices,along with advancing a policy agenda that reduces barriers to employment for people with criminal backgrounds.In 2022,the Firm expanded our Second Chance community-based hiring models in Detroit and Phoenix,with plans to continue expanding it to additional citie
166、s.These hiring models help reach qualifed candidates,many with criminal records,who previously may not have considered the Firm as a potential employer.Through the Second Chance Business Coalition,we continue to work with more than 45 cross-industry large-scale companies to expand second chance hiri
167、ng and advancement,including developing best practices and tools for employers.In 2022,10%of new JPMorgan Chase hires in the U.S.were people with criminal backgrounds.Additionally,together with JPMorgan Chases Legal Pro Bono team,community-based legal ser-vices nonproft organizations and law frm pro
168、 bono partners,we hosted expungement clinics in Chicago,Columbus,and Wilmington with the aim of helping eligible individuals prepare the docu-ments needed for the criminal record expungement or sealing process.Very few individuals who are eligible to have their records sealed or expunged ever apply
169、because the petition-based sys-tem is costly,complex and time-consuming.The Firm has supported updating industry hiring rules set in Section 19 of the Federal Deposit Insurance Act.In 2022,the Fair Hiring in Banking Act was signed into law,creating opportunities for more people with records that ft
170、within the Section 19 industry guidelines to join our work-force,as well as other fnancial frms.The Firm also supports Clean Slate legislation to automate the process of clearing or sealing eligi-ble criminal records and open access to jobs in places such as Michigan,Delaware,Connecticut,Virginia,an
171、d most recently Coloradoand continues to support eforts to advance measures in New York,Illinois,Texas,Missouri,and Oregon.CASE STUDY GLOBAL CAREER READINESS COMMITMENT IN FRANCE In France,approximately 16%of young people ages 18 to 24 are not in employment20,education or training,suggesting that th
172、ey will need alternative pathways to obtain the skills and experience necessary to succeed in the labor market.Across le-de-France,there are more than 28,000 early school leavers21,with youth from disadvantaged backgrounds dispro-portionately represented.School closures during the pan-demic are esti
173、mated to have widened the educational attain-ment gap and increased the risk of dropouts amongst poorer students,with unequal access to digital equipment,parental support,and/or suitable space to work.JPMorgan Chase is supporting the nonproft,Article 1,through p hilanthropic cap-ital for a program p
174、roviding high-quality career guidance ser-vices and tools for young people pursuing technical and voca-tional education pathways in the department of Seine-Saint-Denis and in the region le-de-France.The program began i n 2022 and is a iming to h elp 2,500 youths with their progres-sion into higher e
175、ducation or employment by 2025.19 Source:https:/www.ncsl.org/civil-and-criminal-justice/criminal-record-clearing-the-terminology 20 Source:OECD(2022),Education at a Glance 2022:OECD Indicators:-France https:/www.oecd-ilibrary.org/sites/e8e7ec93-en/index.html?itemId=/content/component/e8e7ec93-en 21
176、Source:Rgion le-de-France.(n.d.).Rentre 2020:la lutte contre le dcrochage scolaire continue.online Available at:https:/www.iledefrance.fr/rentree-2020-la-lutte-contre-le-decrochage-scolaire-continue#:text=En%20%C3%8Ele%2Dde%2DFrance%2C Accessed 22 Feb.2023.The Firm announced its Racial Equity Commit
177、ment in 2022 to help close the racial wealth gap and advance economic inclusion.Pictured:Congress Heights in Washington,D.C.32 INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our Racial Equity Commitment Inclusive Growth Diversity,Equity and Inclusion Human Capital GOVERNANCE APPENDICES Fueling Business G
178、rowth and Entrepreneurship JPMorgan Chase is helping to address the discrepancy in access to main-stream debt or equity capital for underserved entrepreneurs and certain businesses,such as minority-and women-owned business;lack of access can lead to barriers in establishing,growing and scaling their
179、 companies.The Firm is working to level the playing feld for these groups through products,programs,fnancing and policy recommendations aimed at expanding access to capital,networks and tools that are important for entrepreneurial success.2022 HIGHLIGHTS Support for Small Business:Our Firm is proud
180、to serve small businesses.During 2022,JPMorgan Chase Business Banking provided$4.3 billion in loans and lines of credit to small businesses,including$860.4 million to small busi-nesses in majority Black,Hispanic and Latino communities(which a re a part of our Racial Equity Commitment).For example,we
181、 took nationwide action in 2022 through our Special Purpose Credit Program(“SPCP”),expanding credit access for small businesses in historically underserved areas.We also sup-port minority entrepreneurs through coaching opportunities.Through 2022,senior business consultants coached more than 3,000 Bl
182、ack,Hispanic and Latino small businesses and hosted educational events,community work-shops and business training seminars with over 115,000 participants across 21 U.S.cities.In addition to these eforts,globally,hundreds of JPMorgan Chase employees provided direct mentorship to minority and female e
183、ntre-preneurs through the Firms Founders Forward program in 2022.From busi-ness plans to revenue strategies,this program ofers support to entrepre-neurs as they look to grow their businesses and serve their communities.Supplier Diversity:We support the development and utilization of qualifed diverse
184、 businesses from historically underrepresented groups,including companies owned and operated by ethnic minorities,women,military veterans,people with disabilities and members of the LGBTQ+community.Our supplier diversity mission is comprised of three pillars:(1)facilitating the growth and developmen
185、t of diverse businesses in our supply chain network;(2)promoting equity and inclusion across our entire portfolio of supply chain business partners;and(3)driving economic growth in the communities in which we do business.In 2022,our Firm spent approximately$2.1 billion on Tier 1 and$800 million on T
186、ier 2 diverse suppliers22,including$1.7 billion with minority-owned businesses and$1.1 billion with women-owned businesses.In 2022,JPMorgan Chases top suppliers increased their own spend with diverse suppliers,generating over$6 bil-lion in new diverse spending23.We continued to support diverse suppl
187、iers in key cities across the U.S.in 2022,primarily by hosting targeted events focused on bringing local minority business owners together with resources and contacts across the bank and in communities in Chicago,Dallas,Houston,Los Angeles and New York.For more informa-tion on our eforts to improve
188、diversity standards and processes within our supply chain,see page 60.Our commitment to CDFIs and MDIs:CDFIs and MDIs provide vital fnancial services in communities that are often underserved.Through small business loans,commercial fnancing,mortgages and more,these institutions supply capital to fue
189、l economic growth and,in the process,play an essential role in helping individuals in these com-munities build wealth.In order to do so,however,many CDFIs and MDIs need additional capital themselves.Through our Racial Equity Commitment,our Firm is working to strengthen minority-owned and diverse-led
190、 CDFIs and MDIs by providing access to capi-tal,connections to institutional investors,policy advocacy,support for diverse-led com-mercial projects and mentorship and training opportunities.This support includes the Firms Service Corps program,through which employee teams are matched with CDFIs and
191、MDIs to leverage their business acumen to support organizational sustainability and increase community impact.B y the end of 2022,we had invested more than$100 million of equity in 15 diverse-owned and-led CDFIs and MDIs that serve 96 communi-ties across 21 states and the District of Columbia.This c
192、apital is intended to help these institutions hire staf,invest in technology enhancement and expand into new markets.Small business policy agenda:We are advancing policy reforms that promote access to capital and advisory assistance for underserved entrepreneurs.In 2022,the JPMorgan Chase PolicyCent
193、er expanded on the Firms support for small business participation in contracting by releasing a brief titled,“Lifting Barriers to Small Busi-ness Access to Procurement”,which outlines our recommendations for policymakers to improve existing programs and enhance resources available to small businesse
194、s.Additionally,we have convened private and public sector stakeholders to discuss how barriers in policy can be removed for small businesses who are looking to become suppliers to large companies and government.We have also continued our advocacy on SBA program reforms and CDFI and MDI supports,some
195、 of which have been implemented,such as the extension of the Community Advantage program to 2024.National M inority Supplier Development Councils Annual Conference&Exchange,New Orleans,Louisiana.22 Tier 1:The amount of spend,or procurement dollars,that the Firm spends directly with third parties tha
196、t provide goods and services that support its business operations.Tier 2:The amount of spend,or procurement dollars,that the Firms suppliers spend with their Tier 1 suppliers.23 Spend totals for Minority-owned businesses and Women-owned businesses include both Tier 1 and Tier 2 data.They represent t
197、he total population of each and are not considered unique totals.33 INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our Racial Equity Commitment Inclusive Growth Diversity,Equity and Inclusion Human Capital GOVERNANCE APPENDICES CASE STUDY SUPPORTING FEMALE ENTREPRENEURSHIP WORLDWIDE As part of JPMorgan C
198、hases work to advance a more equitable economy,the Firm is helping to strengthen our local communities by addressing structural barriers to economic opportunity.In 2022,through our targeted philanthropic commitments to local and regional nonproft organizations and employee engagement,we supported lo
199、w and mid-dle-income women,Black and ethnic minority individuals,and migrants globally to start or grow small businesses.During December 2022 in Latin America,JPMorgan Chase committed$400,000 in philanthropic capital to Aliana Empreendedora and$350,000 in philanthropic capital to Impact Hub So Paulo
200、 to help Black female microentre-preneurs.Aliana Empreendedora leads a national network of hundreds of entrepreneur support organizations,and Impact Hub ofers its support to microentrepreneurs in dozens of municipalities across the country.This pilot program has the potential to raise awareness and
201、catalyze a change in how Black female microentrepreneurs from underserved backgrounds are supported at scale over the long-term.CASE STUDY THE SOUTHERN OPPORTUNITY AND RESILIENCE FUND Impact Finance and Advisory provided a$10 million loan to the Southern Opportunity and Resilience Fund(SOAR)in 2021,
202、which was created to provide fexible,afordable capital and free advisory support to entrepreneurs in his-torically underserved communities across 15 southern states and Washington D.C.Through the Firms support,SOAR purchased loans throughout 2021 and 2022 originated by 11 participating CDFIs,allowin
203、g those CDFIs to maintain and increase their lending activities to small businesses.These CDFIs ofered low interest loans up to$105,000 to small businesses and nonproft organizations with less than 50 employees and less than$5 million in gross revenue.Through December 30,2022,SOAR purchased over 1,1
204、00 loans at an average loan size of approxi-mately$55,000.Of these loans,83%were made to minority-and/or women-owned business and nonprofts and more than 55%were made in distressed or at-risk communities.2424 Based on the Distressed Communities Index or in CDFI Investment Areas.JPMorgan Chase grant
205、recipients are working to increase access to afordable,climate resilient housing in areas such as Inland Empire,California.34 INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our Racial Equity Commitment Inclusive Growth Diversity,Equity and Inclusion Human Capital GOVERNANCE APPENDICES Catalyzing Communit
206、y Development Supporting community development is an important way to improve community well-being and expand economic opportunity.Housing and homeownership,in par-ticular,are central pillars of community development because access to a stable,afordable home is a leading determinant of income and we
207、alth,health and overall quality of life.Yet for many U.S.households,especially Black,Hispanic and Latino households,access to afordable housing is increasingly out of reach.Through lend-ing,equity investments and philanthropic capital;community partnerships;and data and policy insights,JPMorgan Chas
208、e is helping to build stronger communities,with a focus on homeownership and access to afordable housing,which is also a core focus of our$30 billion Racial Equity Commitment.2022 HIGHLIGHTS Homeownership:To help address the homeownership gap between White house-holds and Black,Hispanic and Latino h
209、ouseholds,the Firm is expanding access to afordable homeownership through our home lending products and services,as well as through innovative homebuyer readiness programs and fnancial education ser-vices.During 2022,the Firm originated over 11,500 h ome purchase loans for Black,Hispanic and Latino
210、households across the economic spectrum,totaling approxi-mately$4 billion.For more information on how the Firm is expanding access to afordable homeownership through our Community and Afordable Lending eforts,please see our Racial Equity Commitment section.Afordable rental housing:The Firm works to
211、advance afordable housing solutions,bringing our industry expertise,a comprehensive set of fnancial tools and a strat-egy of combining our business and philanthropic eforts to create greater impact.As part of our Racial Equity Commitment,we pledged to fnance the creation and pres-ervation of 100,000
212、 afordable rental units over fve years through$14 billion in new loans,equity investments and other eforts.In 2022,through the Afordable Housing Preservation Program,the Firm approved funding for$8.4 billion in loans to incentivize the preservation of approximately 78,000 afordable housing and renta
213、l housing units across the U.S.Philanthropic and fexible capital for innovative housing solutions:As part of the Racial Equity Commitment,the Firm made a f ve-year,$400 million commitment to improve household stability and housing afordability for Black,Hispanic and Latino households.We have committ
214、ed over$200 million through the end of 2022 through grants,loans and equity investments.This includes support for organizations focused on,among other things,eviction diversion models and foreclosure preven-tion support to stabilize renters and homeowners,preservation strategies to sup-port small la
215、ndlords,innovations in new construction to lower costs and increase supply,and specialized mortgage products and alternative ownership models to increase homeownership.For example,in 2022,we announced a$15 million com-mitment to fve nonproft organizations working to test and scale innovative models
216、to increase the supply of climate-resilient,energy-efcient afordable homes.Housing reforms policy agenda:The Firms housing market afordability policy agenda seeks to support regulatory and policy changes aimed at addressing sys-temic bias in housing and encourage more efective models for boosting ac
217、cess to and supply of afordable homes.JPMorgan Chase continues to engage with industry partners and regulators to fnd ways to address gaps in the residential appraisal processincluding,among other things,lack of appraisal industry diversity and lack of understanding around the rights to and process
218、for reconsideration of valuethat have led to appraisal bias and equity issues in the valuation process.In 2022,our Firm committed$3 million to the Appraiser Diversity Initiative,a collaboration between the Appraisal Institute,National Urban League,Fannie Mae and Freddie Mac aimed at attracting diver
219、se entrants into the residential appraisal feld.To date,the Firms commitment has resulted in more than 360 scholarships to diverse appli-cants.In 2022,we also continued our eforts to help protect economically vulnera-ble families from losing their homes in heirs property partition sales and tax lien
220、 sales through our support and advancement of the Uniform Partition of Heirs Prop-erty Act(“UPHPA”).UPHPA laws reform state property laws to provide fractional or heirs property owners with basic due process protections.We supported advance-ment of Heirs Property legislation in California,Utah,Washi
221、ngton,Philadelphia,and in the District of Columbia.CASE STUDY SAN FRANCISCO HOUSING ACCELERATOR FUND Finding safe,afordable,and stable housing is one of the largest challenges fac-ing families living in high-cost metropolitan areas like Californias Bay Area.JPMorgan Chase has taken a broad approach
222、to support housing solutions that ft the Bay Areas unique needs,with a focus on production,preservation,protec-tion,and innovation throughout the region.One notable efort was a$12 million low-cost loan,with an initial$6 million committed in 2019 and an additional$6 million committed in 2022,provided
223、 by the Firms Impact Finance and Advisory team to The San Francisco Housing Accelerator Fund(“HAF”).HAF is a nonproft CDFI established in 2017 to address key fnancing gaps and mitigate the housing afordability crisis in San Francisco and the wider Bay Area.HAF provides prede-velopment,acquisition,an
224、d rehabilitation loans for small and large sites,includ-ing single-room occupancy,residential hotel properties,and vacant or underuti-lized land to be developed into afordable housing.As a lender to communi-ty-based developers serving LMI populations,HAF has originated more than$350 million in fnanc
225、ing across 38 projects,resulting in nearly 1,700 residential units and 30 commercial spaces being preserved or created,as of June 30,2022.CASE STUDYMIAMI AFFORDABILITY PROJECT JPMorgan Chase is supporting the University of Miamis Ofce of Civic and Com-munity Engagement to tackle two major challenges
226、 facing Miami-Dade County the lack of afordable housing and efects of climate change.The Firm has pro-vided a grant to develop and expand the Miami Afordability Project(“MAP”)tool,which is designed to investigate how climate consequences such as sea level rise,fooding and extreme heat are contributi
227、ng to the displacement of residents in historically under-resourced neighborhoods.The MAP tool enables users to visu-alize how increased fooding,rising seas and more powerful storm surges pro-jected for the future would impact afordable housing across Miami-Dadewhich already has one of the nations h
228、ighest percentage of renters spending more than half of their income on housing.By providing access to this type of information,neighborhoods throughout the county such as Opa Locka,Little River and Sweet-water will have more detailed information on projected climate conditions and resilience to cli
229、mate impacts to support their afordable housing advocacy work.35 INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our Racial Equity Commitment Inclusive Growth Diversity,Equity and Inclusion Human Capital GOVERNANCE APPENDICES Strengthening Financial Health and Wealth Creation Improving economic opportunit
230、y starts by helping people achieve their fnancial goals,cultivate fnancial resilience and ultimately build wealth.Access to relevant,useful and afordable fnancial services is a critical foundation for achieving this.However,diverse and LMI individuals are less likely to have access to fnancial ser-v
231、ices,the fnancial resilience to manage unexpected shocks and the fnancial resources to meet long-term goals.We are leveraging our reach and expertise to expand access to banking,develop products that meet the needs of LMI consumers,deploy grants to support fnancial health,and provide fnancial coachi
232、ng to support fnancial resiliency.2022 HIGHLIGHTS Access to Banking Services:As part of our Racial Equity Commitment(see page 25),we pledged to help one million consumers open low-cost checking or savings accounts over fve years through expanded awareness of our Chase Secure Bank-ingSM product.Chase
233、 Secure BankingSM accounts have no overdraft fees and provide users with the benefts of being a Chase customer,like access to thousands of fee-free ATMs,free money orders and cashiers checks,Chases mobile app and support from bankers in person or by phone.In 2022,we helped customers open more than 1
234、70,000 net new low-cost checking accounts with no overdraft fees and enhanced the Chase Secure BankingSM product by introducing Early Direct Deposit to expedite customer access to cash by up to two days.Since its launch in 2019,we have made Chase Secure BankingSM available to 1.5 million accounts to
235、 help people access main-stream banking.Our Chase bank branches are also a key part of our strategy to expand access to banking services.As of December 2022,we had opened an addi-tional 29 new branches in LMI communities,many within Black,Hispanic and Latino communities.Since 2019,we have opened a t
236、otal 15 of Community Center Branches,including three additional branches in 2022.Community Center Branches ofer addi-tional free resources,such as skills training,small business pop-ups,and fnancial health seminars for communities that have lacked access to traditional banking.Additionally,we have h
237、ired a total of 146 Community Managers.We are also increas-ing marketing and outreach to customers who are currently underserved.Tools to help our customers achieve their fnancial goals:Our Firm provides afordable and scalable products and services that help our customers strengthen their fnancial h
238、ealth and meet long-term goals such as retirement savings,educa-tion,homeownership and growing a small business.We are also helping to fll gaps and improve the user experience for LMI customers striving to improve their fnan-cial health.In 2022,the Firms Impact Finance and Advisory team invested in
239、Propel,a technology platform for low-income Americans that enables users to view their government benefts,access discounts for everyday items and utilize a debit card.Propel currently serves more than 5 million users a month by helping them check their S upplemental Nutrition Assistance Program(“SNA
240、P”)b alances in real time.Policy solutions:JPMorgan Chase is working to advance policy that expands access to banking,improves cash fow management,develops and strengthens access to credit,and builds savings and wealth.We support policies that protect consumers while enabling the fexibility to desig
241、n innovative credit and liquidity solutions.JPMorgan Chase participates in the Roundtable for Economic Access and Change (Project REACh),which brings together leaders from the banking industry,national civil rights organizations,business and technology to reduce specifc barriers to fnancial inclusio
242、n.We are working across sectors to explore alternative credit assessment methods that responsibly expand access to mainstream credit for underserved borrowers.We also support policy that will enable structural changes to public assistance programs that promote economic stability for LMI consumers an
243、d put people on a path to fnancial resilience and wealth-building.Across all these areas,we are sharing our Firms insights,data and experience about the unique challenges and solutions that meet the needs of LMI communities.CASE STUDYREAFFIRMING OUR COMMITMENT TO HBCUS JPMorgan Chase is committed to
244、 help close the racial wealth gap and drive eco-nomic inclusion by supporting the educational and career outcomes of young Black and other people of color from high school,through college,and into promising career pathways.Colleges and universities are preparing their stu-dents for an ever-evolving
245、labor market,including elevating the importance of connecting credentials and work experiences to in-demand jobs of the future.HBCUs play a vital role in creating pathways to opportunity in the U.S.and pre-paring their students for those opportunities.Recognizing the importance of deepening our rela
246、tionship with these institutions,JPMorgan Chase reafrmed its support of HBCUs in 2022 through an expanded fve-year,$30 million com-mitment.This commitment takes a strategic approach to help meet the individ-ual needs of HBCUs and students.This commitment complements the work of the Firms Advancing B
247、lack Pathways Center of Excellence,an initiative to chart clearer pathways toward economic success and empowerment within the Black community(see page 41 for more details).As part of the commitment in 2022,the Firm is continuing its commitment of$1 million annually for fve years to the Student Finan
248、cial Hardship Fund to help students buy books,pay a security deposit or medical bill,address short-term food insecurity or meet other needs.CASE STUDY INDIA FINANCIAL INCLUSION LAB Along with the Michael&Susan Dell Foundation,the Bill&Melinda Gates Foun-dation,the MetLife Foundation and Omidyar Netw
249、ork,the Firm is providing philanthropic capital to the Financial Inclusion Lab in India,an initiative aimed at improving the fnancial health of Indias underserved LMI population,by bringing early-stage inclusive fntech startups to scale.Despite making signif-cant progress in fnancial inclusion,India
250、s population continues to face barriers in accessing and using fnancial services.Since launching in 2018,the Financial Inclusion Labs eforts have included providing expertise to develop prototypes,mentoring,business development assistance and other support to startups.As of December 31,2022,the Lab
251、has reported supporting 50 early-stage startups.Cumulatively,according to the Financial Inclusion Labs self-reporting,these startups have served over 30 million individuals and raised over$80 million in funding following their participation in the Lab.36 INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our
252、 Racial Equity Commitment Inclusive Growth Diversity,Equity and Inclusion Human Capital GOVERNANCE APPENDICES Promoting Environmental SustainabilityAdvancing sustainability is not only about helping the environment,it is also about improving the communities we serve.Persistent changes in global clim
253、ate patterns and associated extreme weather events present risks to customers,communities and clients.Risks like these threaten personal safety and can cause costly damage to properties,house-holds,and businesses.We believe in the power of communities,governments and business to implement the low-ca
254、r-bon energy transition as an important part of inclusive economic growth.JPMorgan Chase is pursuing projects that include helping individuals and communities build climate resilience in housing and urban spaces,fostering an inclusive approach to climate and energy innovation and small businesses,an
255、d equipping diverse populations to acquire the training and skills needed to access and thrive in future job opportunities.Our commitment to racial equity and inclu-sive growth are important themes in each of the highlighted areas below.2022 HIGHLIGHTS Building community resilience to the efects of
256、climate change:Strategic philanthropy is an important way we sup-port organizations and communities that are advancing climate resilience across the globe.The Firm supports entities like the Atlantic Councils Adrienne Arsht-Rockefeller Foundation Resilience Center and their launch of the Cool Capita
257、l Stack,an initiative to mobilize capital for projects that protect people from climate-driven extreme heat,particularly the most vulnerable communities,in 12 cities around the world.Additionally,our support for the American Council for an Energy Efcient Economy is designed to enable the organizatio
258、n to provide technical assistance to governments and NGOs for advancing energy efciency investments in afordable housing.And at the neighborhood level,we support community-based organizations like Northeast Houston Redevelopment Council in building green infrastructure,like community gardens and rai
259、nwater catchment systems,and ofering disaster preparedness education.Supporting innovation at the intersection of sustainable and afordable housing:In October 2022,JPMorgan Chase announced a commitment of$15 million in philanthropic capital to fve organizations,as part of our$400 million fve-year co
260、mmitment to improve housing afordability and stability for households of color.The grants are focused on help-ing to scale innovative climate resilient afordable housing models within communities in Rio Grande Valley,TX;Bufalo,NY;Washington D.C.;Miami-Dade County,FL;and Inland Empire,CA.CASE STUDY B
261、UILDING SKILLS FOR UNDERSERVED PEOPLE IN MADRID TO ACCESS GREEN JOBS The energy transition can create new jobs for communities,but work is needed to connect job seekers with opportunities and to ensure that individuals have the skills needed to succeed in them.In Madrid,one of our grantees,Fundacin
262、Konecta,works with young people from underserved backgrounds to prepare them for these emerging job opportunities.Fundacin Konecta trains young people to excel in career pathways in renewable energy,infrastructure,waste management,construc-tion,and water management,and provides job placement support
263、 to connect them with concrete opportunities.They are planning to train 200 participants during the 2-year program,launched in 2022,to fnd employment in the green economy.CASE STUDY TRAINING THE NEXT GENERATION OF PRAGMATIC ENERGY LEADERS Market forces,technological advances,and policy changes are b
264、ringing about a transformation of the energy landscape.Energy sector leaders have identifed the need to learn new skills and integrate new solutions into the existing energy sys-tem to confront these challenges and chart a course to a low-carbon future.JPMorgan Chase supported Energy Leadership Inst
265、itutes EnGen executive leadership development program,which is designed to educate and engage mid-to senior-level leaders from all sectors of the energy industry to drive innovation and technological advancements toward net-zero 2050 goals.The 2023 cohort includes participants from varied background
266、s including oil and gas,renewable energy,academia,fnance,utility and the nonproft sector.The Firm supports nonprofts working to test and scale innovative models to increase the supply of energy efcient homes.Pictured:Rancho Cucamonga,California 37 INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our Racial
267、 Equity Commitment Inclusive Growth Diversity,Equity and Inclusion Human Capital GOVERNANCE APPENDICES Diversity,Equity and Inclusion At JPMorgan Chase,we believe that if our teams are more diverse,we will generate better ideas and out-comes,enjoy a stronger corporate culture and outperform our comp
268、etitors.That starts,frst and foremost,with building and fostering an inclusive work environment where our employees are respected,trusted and encouraged to bring their whole selves to work.It also means actively working to incorporate DEI consider-ations into how we hire,develop and support our empl
269、oyees;design and deliver our products and services;leverage our purchasing power;invest in our communities;engage on public policy issues;and more.We have made progress over the past few years in creating a more diverse and inclusive business,and continue to increase our representation among gender
270、and race.We have also taken a number of steps to build the infrastructure for our Firm to deliver on our commitment to DEI.This includes developing and implementing a global DEI strategic framework with clear objectives,metrics,controls and accountabili-ties.We have strengthened our DEI function and
271、 formalized the ways in which it works to advance prog-ress within our lines of business and serve customers,clients and communities.We are managing and exe-cuting on our priorities because we know that DEI is an important part of our Firms ability to be success-ful in the long term.We know there is
272、 more work to do,and we are committed to both continuing that work and to being trans-parent with our stakeholders about our progress.Driving Progress Within Our Own Workforce We recognize that our commitment to advance a diverse,equitable and inclusive world starts with how we put that vision into
273、practice inside our own company.We continue to incorporate diversity into hiring,training,developing and retaining our employees,and we remain focused on fostering an inclusive culture that respects and champions diverse perspectives.JPMorgan Chase DEI executives participate at the Firms 2022 Leader
274、ship Day,New York,New York.38 INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our Racial Equity Commitment Inclusive Growth Diversity,Equity and Inclusion Human Capital GOVERNANCE APPENDICES 39 2022 Workforce Composition In connection with its diversity initiatives,the Firm periodically requests that its
275、employees and Board members self-identify based on specifed diversity categories.The following table presents information on self-identifcations as of December 31,2022.Information on race/ethnicity of employees is categorized based on Equal Employment Opportunity(“EEO”)classifcations and is pre-sent
276、ed for U.S.employees who self-identifed,and information on gender is presented for global employees who self-identifed.Information on race/ethnicity and gender for members of the Oper-ating Committee and the Board of Directors refects all such members.Information on LGBTQ+and veteran statuses is bas
277、ed on U.S.employees,and all members of the Operating Committee and the Board of Directors.Information on disability status is based on all U.S.employees and all members of the Operating Committee.GLOBAL GENDER DATA29 TOTAL EMPLOYEES Men 51%Women 49%BOARD OF DIRECTORS26 Women 36%Men64%OPERATING COMMI
278、TTEE Women 39%Men 61%SENIOR LEVEL EMPLOYEES25 Women 27%Men 73%CAMPUS&INTERNSHIP CLASS41 Women 47%Men 53%U.S.RACE/ETHNICITY DATA27 TOTAL EMPLOYEES White 44%Hispanic 21%Asian 18%Black 14%Other28 3%BOARD OF DIRECTORS26 White 91%Hispanic 0%Asian 0%Black 9%Other28 0%OPERATING COMMITTEE White 83%Hispanic
279、11%Asian 6%Black 0%Other28 0%SENIOR LEVEL EMPLOYEES25 White 75%Hispanic 6%Asian 12%Black 5%Other28 2%CAMPUS&INTERNSHIP CLASS39 White 35%Ethnic40 65%PROMOTIONAL DATA GLOBAL PROMOTIONS37,38 39%Women 61%Men U.S.PROMOTIONS34,35 47%Ethnic36 53%White ADDITIONAL DATA LGBTQ+30 Militaryveterans31 People with
280、disabilities32 TOTAL EMPLOYEES 4%3%4%SENIOR LEVEL EMPLOYEES25 3%2%3%OPERATING COMMITTEE 6%0%0%BOARD OF DIRECTORS26 0%9%0%33 25 Senior level employees represents employees with the titles of Managing Director and above.26 Excludes Alicia Boler Davis,who was elected to the Firms Board of Directors,efe
281、ctive March 20,2023.27 Based on EEO metrics.Presented as a percentage of the respective populations who self-identifed race/ethnicity,which was 96%and 95%of the Firms total U.S.-based employees and U.S.-based senior level employees,respectively,and all members of the Operating Committee and the Boar
282、d of Directors.Information for the Operating Committee include one member who is based outside of the U.S.28 Other includes American Indian or Alaskan Native,Native Hawaiian or Other Pacifc Islander,and two or more races/ethnicities.29 Presented as a percentage of the respective populations who self
283、-identifed gender,which was 98%of the Firms total global employees and 99%of the Firms global senior level employees,and all members of the Operating Committee and the Board of Directors.30 Presented as a percentage of total U.S.-based employees,total U.S.-based senior level employees,all members of
284、 the Operating Committee,and all members of the Board of Directors,respectively.31 Presented as a percentage of total U.S.-based employees,total U.S.-based senior level employees,all members of the Operating Committee,and all members of the Board of Directors,respectively.32 Presented as a percentag
285、e of total U.S.-based employees,total U.S.-based senior level employees,all members of the Operating Committee,and all members of the Board of Directors,respectively.33 The Firm did not request members of the Board of Directors to self-identify disability status.34 Based on EEO metrics.Presented as
286、a percentage of the respective U.S.-based populations who self-identifed race/ethnicity 35 Represents employees with the titles of Vice President and above.36 Ethnic is defned as all EEO classifcations other than White.37 Presented as a percentage of the respective global populations who self-identi
287、fed gender.38 Represents employees with the titles of Vice President and above.39 Based on EEO metrics.Presented as a percentage of the respective U.S.-based populations who self-identifed race/ethnicity.40 Ethnic is defned as all EEO classifcations other than White.41 Presented as a percentage of t
288、he respective global populations who self-identifed gender.INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our Racial Equity Commitment Inclusive Growth Diversity,Equity and Inclusion Human Capital GOVERNANCE APPENDICES Culture of Respect,Equity and Inclusion Across the Firm,we continually work to create
289、and reinforce a culture of respect,equity and inclusion,in which our employees are empowered to be their true selves.We do so by creating forums for employee engagement,initia-tives to advance inclusion and elevate diverse perspectives,and education and training programs designed to identify ways th
290、at all of our employees can con-tribute to an inclusive culture.Our Business Resource Groups(BRGs)are an important part of how we do this.These BRGs are inclusive groups that enable employees to share ideas,grow professionally and connect to colleagues who have similar interests.Rec-ognizing the int
291、ersectionality of the diferent groups represented by our BRGs,we are taking steps to promote and facilitate cross-BRG collaboration.See page 47 for the list of JPMorgan Chase BRGs.Our Asian,Black,Hispanic and LGBTQ+Executive Forums,which bring together the senior leaders of these communities to act
292、as ambassadors and thought leaders for Firmwide initiatives,are another way we support and foster DEI within our Firm.Our Equal Opportunity,Anti-Discrimination and Anti-Harassment Statement sets forth our policies and expectations for our employees.All employees (including both full-time and part-ti
293、me employees)are required to complete anti-harassment awareness training.In addition,in 2022,our employees were required to complete Firmwide diversity and inclusion training programs,including You Belong Here,Culture of Respect/Culture&Conduct,and Journey to Inclusive Teams for managers.Accountabil
294、ity Framework Executing on our DEI commitments requires promoting accountability across the Firm.Our Accountability Framework,which we continue to enhance over time since its launch in 2020,is used to evaluate senior leaders,including Oper-ating Committee members,on behaviors,practices and progress
295、toward goals related to the Firms DEI priorities,and to incorporate that into year-end perfor-mance and compensation assessments.DEI Centers of Excellence Our Firm has established DEI Centers of Excellence to take a unifed and inter-sectional approach to delivering impact for employees,clients,custo
296、mers and the communities we serve.The Centers of Excellence play an important role in supporting the Firms commitments to advance racial equity and create lasting impact both internally and externally,leading our global strategies related to target populations and contributing to progress toward our
297、 Racial Equity Com-mitment.The Centers of Excellence also complement the role of the BRGs to strengthen our internal culture of respect,equity and inclusion and raise the visibility of the communities they represent.In addition,the Centers of Excellence amplify the work of the lines of business to d
298、eliver inclusive products,services and advice for clients and customers.They also work with a wide array of local and national organizations in the com-munities we serve,leveraging the Firms business expertise and philanthropic resources to help advance racial equity and economic empowerment.CASE ST
299、UDY INCREASING LGBTQ+SELF-ID The Firm experienced an increase in the number of employees self-identifying as LGBTQ+by 35%year-over-year in 2022,following 50%year-over-year growth in 2021.Self-ID data,including sexual orientation and gender identity,allows the Firm to identify opportunities to develo
300、p targeted initiatives to improve the workplace for all employees,including those from the LGBTQ+community.The Firms LGBTQ+Executive Forum,a consortium of senior leaders who self-iden-tify as LGBTQ+and serve as advocates for the LGBTQ+community,now includes over 450 Managing Directors and Executive
301、Directors.DEI and employee development programs help create career pathways into and across the Firm.Pictured:Chicago,Illinois 40 INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our Racial Equity Commitment Inclusive Growth Diversity,Equity and Inclusion Human Capital GOVERNANCE APPENDICES OUR SEVEN CENTE
302、RS OF EXCELLENCE ARE:Advancing Black Pathways(“ABP”):focuses on strengthening the economic foundation of Black communities around the world.It seeks to address historical barriers to economic growth in Black communities through investments and programs focused on advancing career opportunities for B
303、lack talent,expanding and supporting Black-owned busi-nesses,and improving fnancial health in Black communities.Advancing Hispanics&Latinos(“AHL”):works on promoting the growth and success of Hispanic and Latino communi-ties.Their eforts are focused on career opportunities,business growth and entrep
304、reneurship,fnancial health and community development.Military&Veterans Afairs:honors those who have served and supports their long-term personal success and fnancial confdence.Their eforts are focused on attracting,retaining and developing diverse veteran talent;supporting veter-an-owned businesses
305、and entrepreneurs;increasing the fnancial health of veterans and military families;and support-ing top veteran service organizations.Ofce of Asian&Pacifc Islander Afairs:leads the execution of global programs and initiatives for the Asian and Pacifc Islander(“API”)community,driving opportunity and p
306、rogress for employees,customers and clients through investment,cultural understanding and collaboration.Ofce of Disability Inclusion(“ODI”):leads strategy and initiatives aimed at advancing careers while helping the Firm aspire to be a bank of choice for people with disabilities.ODIs focus areas inc
307、lude driving workplace inclusion,fnancial health,community relationships,and business growth for small businesses and entrepreneurs with disabilities.Ofce of LGBTQ+Afairs:focuses on advancing careers and a culture of inclusion,supporting LGBTQ+owned busi-nesses,providing fnancial health awareness an
308、d education,and driving progress on equity and inclusion for the LGBTQ+community globally.Women on the Move(“WOTM”):provides women inside and outside of the Firm with opportunities to succeed in their professional and personal lives.Their eforts are focused on expanding women-run businesses,improvin
309、g womens fnancial health,empowering womens career growth,and supporting women and girls in our communities.Ofce of Asian&Pacifc Islander Afairs comes together for the D iwali Celebration,Plano,Texas.The Firm honors the Military and Veterans community through nonproft collaborations and events.Pictur
310、ed:Chase Fieldhouse,Wilmington,Delaware The New York City Pride Parade brings together members of the Firms Ofce of LGBTQ+Afairs.41 INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our Racial Equity Commitment Inclusive Growth Diversity,Equity and Inclusion Human Capital GOVERNANCE APPENDICES WOMEN ON THE
311、MOVE-IN ACTION CASE STUDY In 2021,the Firm and Techstars launched the inaugural cohort of the Founder Catalyst program in the U.S.,which provides pre-accelerator startup education and mentorship to early stage founders.With women founders receiv-ing less than 2%42 of available venture capital in the
312、 U.S.,the Founder Catalyst program aims to address this gap by providing the tools,resources and connections needed to support women entrepreneurs in taking their busi-nesses to the next level.The Firm has now sponsored over 80 women founders across four U.S.citiesAtlanta in 2021,and Washington D.C.
313、,Miami and Oakland in 2022and looks forward to continuing the momentum of the pro-gram and founders success into 2023.As of year-end 2022,11 founder Catalyst alumni from our programs have been accepted into Techstars accelerator.ADVANCING BLACK WEALTH TOUR CASE STUDY In 2022,the Firm launched the Ad
314、vancing Black Wealth Tour with events spanning three cities designed to provide fnancial health education,wealth building seminars,and other vital fnancial insights to Black communities.Spear-headed by Advancing Black Pathways,the tour featured Black business leaders and entrepreneurs who engaged mo
315、re than 500 attendees collectively in Los Angeles,New Orleans,and Philadelphia,through interactive work-shops on fnancial wellness,the real estate market,homeownership,entrepreneurship and wealth generation.STONEWALL NATIONAL MONUMENT VISITOR CENTER SPONSORSHIP CASE STUDY JPMorgan Chase is a foundin
316、g supporter of the Stonewall National Monument Visitor Center in New York City.The Stonewall National Monument,where the Visitor Center will reside,aims to celebrate and advance the legacy of the Stonewall uprising of 1969 that helped to spark the LGBTQ+rights movement.This site was designated as th
317、e frst-ever monument dedicated to LGBTQ+equality by the National Park Service.When the Visitor Center opens in 2024,it will feature exhibitions and programs dedicated to the history of LGBTQ+equality.JPMorgan Chase serves as an ongoing advisor on programming and exhibitions to be featured.JPMorgan C
318、hase strives to support the Military Veterans community by helping to provide access to employment.Pictured:Washington,D.C.SUPPORTING VETERANS CASE STUDY In 2011,along with 10 other companies,JPMorgan Chase co-founded the Veteran Jobs Mission(“VJM”),a coalition committed to hiring 100,000 veterans b
319、y 2020.Since its founding,more than 300 member com-panies representing various industries across the U.S have reported over 880,000 veteran hires.In 2022,the VJM increased its goal and is working toward two million veteran hires and 200,000 military spouse hires over the next decade.JPMorgan Chase a
320、lone has hired more than 18,000 veterans since 2011 and currently employs approximately 3,000 military spouses.Also,as part of our commitment to the personal and professional development of service members,the Firm is dedicated to providing job placement opportunities through its Military Pathways R
321、otational Pro-grams.There are three programs operating under the Pathways umbrella:the Military Pathways Rotational Program,The Military Pathways Direct Hire Program,and the Pathways DOD SkillBridge Corporate Fellow-ship Program.All three programs provide personal and professional development traini
322、ngs,a formal men-torship program,programmatic support to participating managers and program members,and robust net-working opportunities.In 2022,the Direct Hire Program welcomed and developed over 330 recently transi-tioned veterans and military spouses,and 82%of the frst SkillBridge cohort have acc
323、epted full-time roles.42 42 Percentage refers to companies with all female-founders,as shown on page 31 of the Q4 PitchBook-NVCA Venture Monitor Report.INTRODUCTION ENVIRONMENTAL SOCIAL Feature:Our Racial Equity Commitment Inclusive Growth Diversity,Equity and Inclusion Human Capital GOVERNANCE APPE
324、NDICES Human Capital At JPMorgan Chase,our people are a key driver of our success in serving customers,clients and communities.It is through their ingenuity,excellence and integrity that we are able to build a prosperous business.As we navigate the ongoing challenges of a post-COVID 19 pandemic worl
325、d and compete for the best talent in the marketplace,we are committed to fostering a work environment in which our people are supported,feel like they belong,and are able to make an impact through their work.Our work environment is an important component of our human capital strategy.It focuses on i
326、nvesting in experiences across the employee life-cycle by attracting and retaining skilled talent,employee engagement,and supporting employees and their families in various life stages through our competitive total rewards portfolio.Attracting and Retaining Skilled,Diverse TalentWe strive to attract
327、 and recruit the best talent for all roles across the Firm in order to best serve our clients and cus-tomers.Our goal is to maintain a diverse and inclusive workforce representing all aspects of diversity,including gen-der,ethnicity,military service,LGBTQ+status and disabilities,refective of the com
328、munities in which we operate.We are focused on expanding talent pools through numerous programs and partnerships.When hiring new employees,we expect managers to consider a slate of candidates who bring a wide range of perspectives,experiences,and skill sets.EARLY CAREER TALENT We believe in supporti
329、ng students and early career talent as they embark on their professional careers and grow into future leaders.We support the development of new talent through our formal Analyst and Associate hiring programs,as well as through our Emerging Talent Programs,which aim to attract a wider range of talent
330、 either pre-college or without a university degree.By attracting a wider range of talent through these programs,we are able to introduce talent to the fnancial sector who may not typically have the opportunity to experience our industry,explore the possi-bility of a long-term career at the Firm,and
331、support their development of life and professional skills for success in the workplace.By engaging with a broader and more diverse talent pool,we are able to extend opportunities beyond the traditional places where we historically looked for talent and seek to have a workforce that is more represent
332、ative of the communities in which we serve.2022 EARLY CAREER RECRUITMENT PROGRAM HIGHLIGHTS43 Approximately 4,600 global summer interns,of which approximately 72%received and accepted returning ofers Approximately 5,000 global full-time hires joined our Analyst and Associate hiring programs 48%of 20
333、22 global summer intern class identifed as women Approximately 1,200 hires through all Emerging Talent programs Approximately 200 hires through the Emerging Talent Apprenticeship programs Approximately 350 Emerging Talent Software Engineer Program hires recruited from educational pipelines outside of a traditional degree path 43 Information on EEO race/ethnicity categories,gender,LGBTQ+,veteran st