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1、 2021 ENVIRONMENTAL SOCIAL&GOVERNANCE REPORTEnvironmental 11Advancing Climate and Sustainability Solutions 12Operational Sustainability 17ContentsIntroduction 1Message from Our Chairman&CEO 2Company at a Glance 3Our Approach to ESG 5Feature:Our$2.5 Trillion Sustainable Development Target 6ESG Report
2、 Appendices 60List of Acronyms 61Resources 62Global Reporting Initiative Index 63Sustainability Accounting Standards Board Index 70JPMorgan Chase Sustainable Bond Annual Report 73Social 20Feature:Our Commitment to Racial Equity 21Diversity,Equity&Inclusion 25Human Capital 30Inclusive Growth 36Govern
3、ance 49Corporate Governance and ESG Oversight 50Stakeholder Engagement 52Risk Management 54Data Privacy and Cybersecurity 55Business Ethics 57Political Engagement and Public Policy 59Introduction1Message from Our Chairman&CEOThis past year has brought disruption and stress for so many as the world g
4、rapples with war in Ukraine,economic volatility,climate change and an ongoing pandemic.It has also shown what companies like ours can and must do to serve our customers,clients and communities:run a healthy and vibrant company and bring together the best of our business to help address significant e
5、conomic and societal challenges.Throughout this period of uncertainty,JPMorgan Chase has led with a tireless focus on doing the right thing,even when its not easy or expedient.We are leveraging capital and expertise across our company to support a greener future for the planet and advance racial equ
6、ity.This is a pivotal time for society government,business and community leaders must move from empty statements and lofty intentions to tangible actions.That is why our company is beginning to implement ambitious targets and commitments to help drive equity and create a more resilient world.A respo
7、nsible approach to energy and climate,especially during a time of war,is to immediately help provide energy security around the globe while remaining focused on accelerating the development of affordable,reliable and lower-carbon energy solutions.We have a goal to reduce the carbon intensity of our
8、financing portfolios,starting with oil&gas,electric power and automotive manufacturing,and targeting$1 trillion by 2030 as part of an overall$2.5 trillion sustainable development target to advance renewable energy and other innovative technologies.And we are minimizing the environmental impact of ou
9、r physical operations across thousands of branches,as well as our data centers and corporate offices.We are also making progress in implementing our$30 billion commitment to help close the racial wealth gap.Financing affordable places for people to live,expanding access to services through local com
10、munity branches,and supporting Minority Depository Institutions and Community Development Financial Institutions are a few examples of how were putting this commitment to work.Because racial equity,like climate,requires a coordinated government response,we are advocating for policies that diversify
11、the appraisal industry,help Americans with no credit file gain access to credit and provide access to affordable small business loans.Finally,we can only run a strong company and tackle these challenges if we have exemplary people.I am so proud of how hard our employees have worked through these tou
12、gh times and the continued steps weve taken to cultivate a diverse and inclusive workplace and support our customers and communities.There is no doubt we both as a company and society have a long way to go.We may not get it right every time,but we strive every day to do the right thing.Moments of cr
13、isis are also moments of opportunity.In this years ESG report,I invite you to read about the work we do every day to drive lasting change.Jamie DimonChairman&CEO,JPMorganChase&Co.2INTRODUCTIONMessage from Our Chairman&CEOCompany at a GlanceOur Approach to ESGFeature:Our$2.5 Trillion Sustainable Deve
14、lopment TargetENVIRONMENTALSOCIALGOVERNANCEESG REPORT APPENDICESCompany at a GlanceJPMorgan Chase&Co.(“JPMorgan Chase”,the“Firm”or“we”)is a financial services company based in the United States of America(U.S.),with branches in 48 states and Washington D.C.,with 271,025 employees in 62 countries wor
15、ldwide and$3.7 trillion in assets as of December 31,2021.The Firm is a leader in investment banking,financial services for consumers and small businesses,commercial banking,financial transaction processing and asset management.Under the J.P.Morgan and Chase brands,the Firm serves millions of custome
16、rs,predominantly in the U.S.,and many of the worlds most prominent corporate,institutional and government clients globally.JPMorgan Chases activities are organized,for management reporting purposes,into four major reportable business segments,as well as a Corporate segment.The Firms consumer busines
17、s is the Consumer&Community Banking(CCB)segment.The Firms wholesale business segments are the Corporate&Investment Bank(CIB),Commercial Banking(CB),and Asset&Wealth Management(AWM).The business segments are referred to as“lines of business.”For further information,refer to Business Segment Results o
18、n pages 6181 of our Form 10-K for the year ended December 31,2021.CONSUMER&COMMUNITY BANKING CCB offers services to consumers and businesses through bank branches,ATMs,digital(including mobile and online)and telephone banking.CCB is organized into Consumer&Business Banking(including Consumer Banking
19、,J.P.Morgan Wealth Management and Business Banking),Home Lending(including Home Lending Production,Home Lending Servicing and Real Estate Portfolios),Card&Auto.Consumer&Business Banking offers deposit,investment and lending products,payments and services to consumers,and lending,deposit,and cash man
20、agement and payment solutions to small businesses.Home Lending includes mortgage origination and servicing activities,as well as portfolios consisting of residential mortgages and home equity loans.Card&Auto issues credit cards to consumers and small businesses and originates and services auto loans
21、 and leases.CORPORATE&INVESTMENT BANK CIB offers a broad suite of investment banking,market-making,prime brokerage,and treasury and securities products and services to a global client base of corporations,investors,financial institutions,merchants,and government and municipal entities.Banking offers
22、 a full range of investment banking products and services in all major capital markets,including advising on corporate strategy and structure,capital-raising in equity and debt markets,as well as loan origination and syndication.Banking also includes Payments,which provides payments services enablin
23、g clients to manage payments and receipts globally,and cross-border financing.Markets&Securities Services includes Markets,a global market-maker across products,including cash and derivative instruments,which also offers sophisticated risk management solutions,prime brokerage,and research.Markets&Se
24、curities 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 comprehen
25、sive financial solutions,including lending,payments,investment banking and asset management products across three primary client segments:Middle Market Banking,Corporate Client Banking and Commercial Real Estate Banking.Middle Market Banking covers small and midsized companies,local governments and
26、nonprofit clients.Corporate Client Banking covers large corporations.Commercial Real Estate Banking covers investors,developers,and owners of multifamily,office,retail,industrial and affordable housing properties.ASSET&WEALTH MANAGEMENT Asset Management offers multi-asset investment management solut
27、ions across equities,fixed income,alternatives and money market funds to institutional and retail investors,providing for a broad range of clients investment needs.The Global Private Bank provides retirement products and services,brokerage,custody,trusts and estates,loans,mortgages,deposits and inve
28、stment 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 Office(CIO)and Other Corporate,which includes corporate staff functions and expense that is centrally managed.Tr
29、easury and CIO is predominantly responsible for measuring,monitoring,reporting and managing the Firms liquidity,funding,capital,structural interest rate and foreign exchange risks.The major Other Corporate functions include Real Estate,Technology,Legal,Corporate Finance,Human Resources,Internal Audi
30、t,Risk Management,Compliance,Control Management,Corporate Responsibility and various Other Corporate groups.Information about JPMorgan Chases financial performance is available in our quarterly earnings materials,as well as quarterly and annual reports on Form 10-Q and Form 10-K,respectively.3INTROD
31、UCTIONMessage from Our Chairman&CEOCompany at a GlanceOur Approach to ESGFeature:Our$2.5 Trillion Sustainable Development TargetENVIRONMENTALSOCIALGOVERNANCEESG REPORT APPENDICESExceptional client service 1.Focus on the customer 2.Be field and client driven and operate at the local level 3.Build wor
32、ld-class franchises,investing for the long term,to serve our clients Operational excellence 4.Set the highest standards of performance 5.Demand financial rigor and risk discipline;We will always maintain a fortress balance sheet 6.Strive for the best internal governance and controls 7.Act and think
33、like owners and partners 8.Strive to build and maintain the best,most efficient systems and operations 9.Be disciplined in everything we do 10.Execute with both skill and urgency A commitment to integrity,fairness and responsibility 11.Do not compromise our integrity 12.Face facts 13.Have fortitude
34、14.Foster an environment of respect,inclusiveness,humanity and humility 15.Help strengthen the communities in which we live and workA great team and winning culture 16.Hire,train and retain great,diverse employees 17.Build teamwork,loyalty and morale 18.Maintain an open,entrepreneurial meritocracy f
35、or all 19.Communicate honestly,clearly and consistently 20.Strive to be good leadersHow We Do BusinessWe strive to operate a thriving company that we can be proud of and to support a sustainable and inclusive economy.Fulfilling these goals rests on staying true to our core business principles:delive
36、ring exceptional client service,operational excellence,fairness and responsibility,a commitment to integrity and building a great team and winning culture.Doing all of this well is the underpinning of our Firms long-term success and therefore of our ability to continue to deliver for all our stakeho
37、lders customers and clients,employees,community,and shareholders.Our Business Principles are described below.JPMORGAN CHASE BUSINESS PRINCIPLES 4INTRODUCTIONMessage from Our Chairman&CEOCompany at a GlanceOur Approach to ESGFeature:Our$2.5 Trillion Sustainable Development TargetENVIRONMENTALSOCIALGO
38、VERNANCEESG REPORT APPENDICESOur Approach to ESGThe finance sector has an important role to play in helping to address some of the most pressing environmental and social challenges of our time;targeted capital is vital to seed,fund and scale solutions,whether helping address the racial wealth gap or
39、 advancing solutions and innovations needed for the low-carbon transition.We believe the scale and reach of our business and our approach to Environmental,Social and Governance(ESG)matters helps drive this progress and contributes to a more sustainable and inclusive economy.Building off the foundati
40、on of our Business Principles,we are leveraging our expertise,capital,data and resources to advance inclusive growth and support the transition to a low-carbon economy.ESG matters are an important consideration in how we do business,including how we develop our products and services,serve our custom
41、ers,support our employees and help lift our communities.Our Sustainable Development Target,which we set in 2021,puts these objectives into practice financing and facilitating more than$2.5 trillion over 10 years to help address climate change and contribute to sustainable development(see page 6).As
42、does our$30 billion Racial Equity Commitment,announced in 2020,which aims to advance racial equity and promote inclusive growth(see page 21).DRIVING AN INCLUSIVE AND SUSTAINABLE ECONOMY FOR ALL:OUR FIRMWIDE PILLARS Careers and SkillsFinancial Health and Wealth CreationBusiness Growth and Entrepreneu
43、rshipCommunity DevelopmentEnvironmental SustainabilityAbout This Report Our Firm communicates information about our ESG practices and performance through a number of channels including our Annual Report and Proxy Statement,various other reports and presentations,regulatory filings,press releases and
44、 direct conversations with stakeholders.We maintain a dedicated ESG Information page on our website to facilitate access to information that we publish on these topics.This annual ESG Report is designed to consolidate and summarize our work on ESG topics that are important to our business and stakeh
45、olders,and guide readers to where they can access more detailed information about specific topics of interest.All data in this report are as of December 31,2021,unless otherwise noted.This ESG Report has also been informed by the Global Reporting Initiative(GRI),including the GRI Universal Standards
46、 released in 2021 and relevant Sector Standards,and the Sustainability Accounting Standards Board(SASB)reporting standards.Our ESG Report Appendices(see page 60)on GRI and SASB map our Firms disclosures related to these frameworks indicators and recommendations.In 2022,we intend to release a dedicat
47、ed climate report,which will be informed by the recommendations of the Task Force on Climate-Related Financial Disclosures(TCFD).5INTRODUCTIONMessage from Our Chairman&CEOCompany at a GlanceOur Approach to ESGFeature:Our$2.5 Trillion Sustainable Development TargetENVIRONMENTALSOCIALGOVERNANCEESG REP
48、ORT APPENDICESOur$2.5 Trillion Sustainable Development TargetWe believe creating sustainable economic growth is important to the long-term strength and vibrancy of the global economy,and to the health and prosperity of people and communities around the world.As a global financial institution,we are
49、leveraging our capabilities and expertise to provide capital and advice that supports economic growth while helping to address key global challenges.That is why we have set a target to finance and facilitate more than$2.5 trillion over 10 years from 2021 through the end of 2030 to advance long-term
50、solutions that address climate change and contribute to sustainable development.Our Sustainable Development Target(the“Target”)aims to grow and strengthen our business activities across three important areas:GreenAccelerating the deployment of solutions for cleaner sources of energy and facilitating
51、 the transition to a low-carbon economy.Our goal is to facilitate$1 trillion in this area alone,through a wide range of activities including underwriting green bonds,lending to support construction of sustainable infrastructure and raising capital for innovative clean technology companies.Developmen
52、t Finance Mobilizing capital to advance the United Nations Sustainable Development Goals(SDGs)in emerging economies.The J.P.Morgan Development Finance Institution(JPM DFI)works to assess the anticipated development impact of transactions with the goal of attracting institutional investors interested
53、 in environmental and socioeconomic impact in developing countries.Community Development Advancing economic inclusion in developed markets.We are working to bolster inclusive growth by supporting areas such as small business,homeownership,affordable housing,education and health care,with a focus on
54、low-to-moderate income(LMI)individuals and communities,as well as Black,Hispanic and Latino individuals and communities.This includes many of the actions we are taking as part of our five-year,$30 billion Racial Equity Commitment.The Target represents a key aspect of our Firmwide approach to ESG sup
55、porting our clients and customers through financing activities that advance sustainable economic growth and highlights the work of other key initiatives,including our efforts to support the low-carbon transition(see page 12),the work of the JPM DFI(see page 9)and the progress of our$30 billion Racia
56、l Equity Commitment(see page 21).This section explains why we developed the Target and how we are organizing to drive its implementation across our business.It also provides an update on our progress and examples of transactions completed in 2021,as well as links to additional information within and
57、 beyond this report.Why We Created the TargetThe Target reflects our recognition of the need for collective action to address the worlds most important challenges and the role that the financial sector can play in mobilizing the capital needed to drive progress.It expands on our prior one-year targe
58、t$200 billion to support climate action and sustainable development in 2020 to a new,10-year target that extends through the end of 2030,which corresponds with the timeframe we set to meet our initial emission intensity reduction targets within our financing portfolio(see page 12)as well as the curr
59、ent timeframe set by the United Nations for achieving the SDGs.By drawing awareness to the work happening across the Firm to advance sustainable development,the Target is designed to mobilize our efforts and sharpen our focus on key areas that contribute towards solutions for the worlds toughest cha
60、llenges.EVOLUTION OF OUR SUSTAINABLE DEVELOPMENT TARGETThe Target builds on our history of fulfilled commitments to support climate action and sustainability.2017Facilitate$200 billion in clean financing by 202512020Finance and facilitate$200 billion for climate action and sustainable development in
61、 2020 22021Finance and facilitate more than$2.5 trillion for climate action and sustainable development over 10 years,by the end of 2030FEATURE1 Achieved in 2020.2 Achieved in 2020,by financing over$220 billion in transactions,including more than$55 billion toward green initiatives.6INTRODUCTIONMess
62、age from Our Chairman&CEOCompany at a GlanceOur Approach to ESGFeature:Our$2.5 Trillion Sustainable Development TargetENVIRONMENTALSOCIALGOVERNANCEESG REPORT APPENDICESHow We Developed the TargetIn setting the Target,we took into account the Firms breadth,scope and geographic reach,spanning the glob
63、e and encompassing activities across both our retail and wholesale business segments.We prioritized areas that are important to global sustainability and inclusive growth and where we believe our capabilities and expertise can help drive progress.We also concentrated on topics that are important to
64、our stakeholders,including customers and clients,employees,communities and shareholders.This led to the Targets three areas of focus,each of which combines a clear need and business opportunity that we believe our Firm is well positioned to address.In the development of the Targets criteria and meth
65、odology,we also took into account international 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 Monitoring framework.How We Are Driving
66、Progress We are mobilizing resources and expertise throughout the Firm to drive progress toward our goals.This includes deploying both new and existing teams to enhance our capabilities and realize opportunities across our wholesale and consumer business segments,as well as across other corporate fu
67、nctions.For example,CCBs Community and Affordable Home Lending business is helping expand our support for sustainable homeownership,and our growing network of Community Center branches is advancing a new model for how we support diverse entrepreneurs and their communities.Elsewhere,we are investing
68、in resources such as CBs Green Economy and Community Development Banking teams,CIBs ESG Solutions team and Center for Carbon Transition(CCT),and the JPM DFI,each of which play a key role in collaborating with our global network of bankers and product specialists to deliver strategic services and fac
69、ilitate financing at scale.For the Target,we have established a robust governance process designed to provide accountability for how we quantify and track our progress over time.This includes a cross-line-of-business and functional group responsible for approving the quantification approach,document
70、ation and reporting associated with transactions that contribute toward the Target.Together,these actions support strategic decision-making within and across our businesses as we work to drive continued progress through 2030.Progress to DateIn 2021,our Firm financed and facilitated approximately$285
71、 billion towards the Target.Across our three objectives,41%went towards development finance,37%towards green,and 22%towards community development.In this section we discuss our progress in each objective through December 31,2021.To learn more about our criteria for determining what business activity
72、 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.33 Our approach to measuring our progress for the Target builds off the criteria and methodology we developed for our$200 billion co
73、mmitment in 2020.For the Target,we made methodological adjustments from the 2020 commitment in two main areas:1)Development Finance,driven by refinements in the JPM DFIs methodology as explained in its latest annual report;and 2)Community Development,with the inclusion of small business and housing-
74、related loans and investments for Black,Hispanic and Latino individuals and communities,largely consistent with our Racial Equity Commitment.TOTAL$285B11%$2.5TTARGET20212030TOTAL$285BGreen$106B37%37%Community Development$61B22%Development Finance$117B41%Corporate&Investment Bank|Investment Banking$1
75、33B47%Including capital raising in debt and equity markets;underwriting of sustainable bonds(i.e.,green,social and sustainability bonds);municipal and not-for-profit bonds;initial public offerings(IPOs);follow-on offerings(FPOs);private placements and advisory services,including mergers and acquisit
76、ions(M&A)Corporate&Investment Bank|Markets$101B36%Including certain emission contracts and investments in tax credit vehicles in alternative energy(e.g.,solar and wind projects)Consumer&Community Banking$35B12%Including support for small businesses,home ownership and consumer adoption of electric ve
77、hiclesCommercial Banking$15B5%Including affordable housing,retrofitting,rehabilitating or constructing accredited energy-efficient buildings(e.g.,LEED,Energy Star)SUSTAINABLE DEVELOPMENT TARGET7INTRODUCTIONMessage from Our Chairman&CEOCompany at a GlanceOur Approach to ESGFeature:Our$2.5 Trillion Su
78、stainable Development TargetENVIRONMENTALSOCIALGOVERNANCEESG REPORT APPENDICESTOTAL$285BGreen$106BCommunityDevelopment$61BDevelopmentFinance$117BEligibility Criteria$B%Sustainable Transportation$22421%Renewable Energy&Energy Efficiency$1414%Water&Waste Management$66%Green Buildings$22%Mixed Use5$605
79、7%Courtesy of Vineyard Wind LLCGREENBy the end of 2030,we aim to finance and facilitate$1 trillion in support of the deployment of solutions for cleaner sources of energy and facilitating the transition to a low-carbon economy.Our eligible business activities include renewable energy,clean technolog
80、y,water,waste management,conservation,sustainable transportation,green buildings and energy efficiency.In 2021,we financed and facilitated approximately$106 billion in support of our green objective,particularly towards sustainable transportation and renewable energy.We supported these areas through
81、 a variety of businesses around our Firm,such as underwriting green bonds for corporate and sovereign issuers,capital raising and advisory services for electric vehicles(EV)companies and lending to emerging renewable energy companies.2021,in particular,was a year characterized by strong market facto
82、rs,including record-breaking global M&A activity and significant growth of the sustainable bond market.Our Target in Action:Powering Americas Largest Offshore Wind FarmJPMorgan Chase served as Joint Lead Arranger for more than$2 billion in financing for the 800 megawatt Vineyard Wind project,the fir
83、st offshore wind farm in the United States capable of generating power at utility scale and the countrys largest source of offshore wind power.Situated off the coast of Marthas Vineyard,the project is expected to supply enough energy to serve the needs of 400,000 Massachusetts households and busines
84、ses and avoid 1.68 million metric tons of carbon emissions annually,while contributing to efforts to transition the U.S.power grid to cleaner sources of energy.JPMorgan Chase provided services across our diversified business to support the development of Vineyard Wind.We provided Investment Banking
85、services,acting as Joint Lead Arranger and Syndication Agent for a senior secured loan.We also provided Markets products(providing hedges to mitigate risk)and Treasury products(cash management as the depository account bank).64 Totals may not sum due to rounding.5 Mixed Use is comprised of transacti
86、ons where the use of proceeds may facilitate activities across more than one eligibility criteria,such as green bonds and emissions contracts.6 Of the various products and services JPMorgan Chase provided to support the project,only the senior secured loan was counted towards the Target.For the seni
87、or secured loan which had multiple book runners,only JPMorgan Chases participation is counted toward the Target.Select Eligibility Criteria by Dollar Amount8INTRODUCTIONMessage from Our Chairman&CEOCompany at a GlanceOur Approach to ESGFeature:Our$2.5 Trillion Sustainable Development TargetENVIRONME
88、NTALSOCIALGOVERNANCEESG REPORT APPENDICESCourtesy of Liquid Telecommunications Financing PlcTOTAL$285BGreen$106BDevelopmentFinance$117BCommunityDevelopment$61BRegion%Latin America&the Caribbean27%Eastern Europe&Central Asia26%Global Development Institutions22%East Asia&the Pacific12%Sub-Saharan Afri
89、ca9%South Asia5%Middle East&North Africa1%DEVELOPMENT FINANCEThe development finance objective of the Target highlights the work of the JPM DFI,which was established to spur capital towards sustainable development projects such as expanded access to education,financial services,telecommunications an
90、d health care in developing countries.By assessing transactions based on their anticipated environmental and socioeconomic impacts,the JPM DFI seeks to expand the market for development finance and grow the pool of investors interested in transactions that offer financial returns and advance the SDG
91、s.For more information,see page 45,as well as the JPM DFIs 2021 Annual Report.In 2021,approximately$117 billion of development finance activity nearly 600 transactions was qualified towards the Target.7Our Target in Action:Expanding Access to Telecommunications in Sub-Saharan AfricaIn February 2021,
92、JPM DFI acted as the Development Finance Structuring Agent for a$620 million corporate bond issued by Liquid Telecom,one of the largest multi-country,open access fiber network operators in Africa.The company operates its largely owned fiber optic and wireless network across more than 20 countries,in
93、cluding Botswana,Democratic Republic of Congo,Kenya,Rwanda,South Africa,South Sudan,Tanzania,Uganda,Zambia and Zimbabwe.These countries have a combined population of around 500 million people,but only 23 million mobile broadband users and three million fixed broadband users,indicating limited access
94、 to telecommunication services,particularly for those living in rural areas.The bond issuance is expected to enable Liquid Telecom to help address key development gaps in the region and improve delivery of education,healthcare and key services to both urban and rural populations in Sub-Saharan Afric
95、a.Through the use of proceeds from the bond,Liquid Telecom is anticipating to improve access to information and communication technology and foster financial inclusion by:Connecting approximately 800 buildings and 5,000 homes to the Fiber to the Home(FTTH)network in the DRC,Rwanda and Zambia;Doublin
96、g the capacity of the Companys FTTH network to approximately 100,000 existing homes in Kenya,Rwanda,Uganda and Zambia;Increasing coverage in Zambia and Zimbabwe by adding more than 100 additional LTE sites;Expanding its fiber network in the DRC to reach,via service providers,approximately 75%of the
97、population;and Creating employment opportunities specifically in the DRC and South Sudan.The JPM DFI assessed the transaction and determined it advances United Nations SDGs#8 and#9,which are associated with promoting decent work and building resilient infrastructure,promoting sustainable industriali
98、zation and fostering innovation.7 Numbers may differ from the JPM DFIs 2021 Annual Report primarily due to overlap with some transactions advancing both the green objective and development finance objective.For the Target,these transactions are counted only once,toward the green objective.Select Geo
99、graphies by Number of Transactions 9INTRODUCTIONMessage from Our Chairman&CEOCompany at a GlanceOur Approach to ESGFeature:Our$2.5 Trillion Sustainable Development TargetENVIRONMENTALSOCIALGOVERNANCEESG REPORT APPENDICESCourtesy of Riverton Square LLCTOTAL$285BGreen$106BDevelopmentFinance$117BCommun
100、ityDevelopment$61BEligibility Criteria$B8%Home Ownership$3150%Affordable Housing$1729%Small Business$24%Mixed Use9$1017%COMMUNITY DEVELOPMENTOur work in the Community Development area of our Target supports areas such as homeownership and affordable housing,small business,education and health care,w
101、ith a focus on LMI and Black,Hispanic and Latino individuals and communities.In 2021,we reflected approximately$61 billion of financing and facilitation towards this objective.The Community Development objective also highlights our commitment to racial equity,and includes many of the activities we a
102、re engaging in as part of our five-year$30 billion Racial Equity Commitment.By the end of 2021,we had deployed or committed more than$18 billion toward our$30 billion goal.Of this$18 billion,more than$16 billion is also reflected here within the Community Development objective of our Sustainable Dev
103、elopment Target.For more details on our Racial Equity Commitment,see page 21.Our Target in Action:Refinancing Affordable Housing Units in New York In June 2021,JPMorgan Chase,through the Corporate&Investment Bank,provided$600 million of financing to A&E Real Estate to facilitate the refinancing and
104、preservation of a portfolio of 53 rent-regulated residential buildings comprising 3,531 rental units located in high-cost areas throughout the Manhattan,Brooklyn,Queens and Bronx boroughs of New York City.The largest single property in the portfolio is the 1,229-unit Riverton Square complex in East
105、Harlem.Originally constructed in the 1940s,the development provided an alternative to the many housing projects that discriminated against non-White residents that were built in the same period.As such,it provided housing opportunities to predominantly Black families and represents the storied histo
106、ry of the Black community in New York.Riverton Square is subject to a regulatory agreement to maintain 975 affordable units(79%of the property),which ensures long term affordability at the complex.The agreement establishes that as leases expire on the units,they remain affordable to various income b
107、rackets(60%,80%and 125%of area median income).As of October 2021,96.5%of the property was classified as affordable.8 Totals may not sum due to rounding.9 Mixed Use is comprised of transactions where the use of proceeds may facilitate activities across more than one eligibility criteria,such as socia
108、l bonds.Select Eligibility Criteria by Dollar Amount 10INTRODUCTIONMessage from Our Chairman&CEOCompany at a GlanceOur Approach to ESGFeature:Our$2.5 Trillion Sustainable Development TargetENVIRONMENTALSOCIALGOVERNANCEESG REPORT APPENDICESEnvironmentalA healthy environment is crucial to the long-ter
109、m success of the economy and of communities around the world,but climate change and other environmental challenges pose increasing threats to our collective future.As a global financial institution working with clients in nearly every sector of the economy,we have an important role to play in tackli
110、ng environmental challenges.Our strategy includes financing and investment solutions to help accelerate the transition to a low-carbon,sustainable economy,supporting our clients with strategic advice and continuing to minimize the environmental impact of our own operations.2021 Highlights Set our fi
111、rst portfolio-level emissions intensity reduction targets for three sectors Oil&Gas,Electric Power and Auto Manufacturing and published our Carbon CompassSM methodology Joined the Industry-led,United Nations-convened Net Zero Banking Alliance(NZBA)and the Net Zero Asset Management(NZAM)initiative Is
112、sued a$1.25 billion green bond in August 2021 Financed and facilitated$106 billion in support of the green objective of our Sustainable Development Target Reduced Scope 1 and 2 greenhouse gas(“GHG”)emissions in our global operations by approximately 15%Met our goal to maintain carbon neutral operati
113、ons for the second year in a row11Advancing Climate and Sustainability SolutionsDeveloping solutions to environmental challenges such as climate change is important to protecting our planet and creating long-term,sustainable economic growth.The financial sector has a unique role to play,particularly
114、 in mobilizing the capital necessary to develop new technologies and build sustainable infrastructure.At JPMorgan Chase,we are using our capabilities to promote sustainable business practices and help our clients respond to and drive new solutions to the challenges the world faces.This includes work
115、ing with clients to support the transition to a low-carbon economy and providing sustainable investing and financing solutions.Supporting the Transition to a Low-Carbon EconomyClimate change is one of the most critical challenges facing our planet and society.We are responding by minimizing the carb
116、on footprint of our own physical operations(see page 17),and by leveraging our business to support and accelerate the global transition to a low-carbon economy.In recent years,many governments,businesses and NGOs have aligned around the collective ambition to reduce global emissions to net zero by 2
117、050.However,the world is not on track to achieve this goal.Achieving net zero by 2050 requires transforming the global energy system,as well as making significant changes in how key goods and services are produced and delivered.The financial sector will play a key role in facilitating the substantia
118、l investment of this transition.As a global financial institution,our strategy is focused on providing financing,strategic advice and investment services to help clients adapt to and thrive in a low-carbon economy.OUR PATH TO NET-ZERO FINANCED EMISSIONSA key aspect of our low-carbon strategy is how
119、we engage with our clients in carbon-intensive industries on their transition.In 2020,we pledged to align key sectors of our financing portfolio with the goals of the Paris Agreement.In May 2021,we became the first large U.S.bank to set 2030 targets which we set as portfolio-level emissions intensit
120、y reduction targets for the Oil&Gas,Electric Power and Auto Manufacturing sectors and published our Carbon Compass Methodology detailing our approach.We also announced our plans to expand our targets to new sectors of our financing portfolio over time.In October 2021,we joined the NZBA,a group conve
121、ned by the United Nations Environment Programme Finance Initiative which brings together a global network of banks committed to aligning their lending and investment portfolios with net zero emissions by 2050.While thoughtful policy,technology and behavioral advancements are all prerequisites in rea
122、lizing our common goals around net zero emissions by 2050,we joined the NZBA because we support the ambition for greater climate action,the sharing of best practices and a collaborative approach between the public and private sectors to reach this goal.We may further address important details of the
123、se efforts as they develop over time,including where we believe practical considerations may constrain our work against the ambitions of the NZBA such as the necessity of technological advancements,the evolution of consumer behavior,the need for thoughtful climate policies around the world,the chall
124、enge of balancing short-term targets with the need to facilitate an orderly and just transition,and other critical considerations such as legal and regulatory obligations.Participating in industry initiatives will also support our efforts to develop targets for other sectors and engage with a growin
125、g number of clients who are aligning their strategies with widely-recognized and science-based emission reduction pathways.How We Are Implementing Our TargetsSince setting our first portfolio-level emissions intensity reduction targets,we have focused on implementing them in the management of our Oi
126、l&Gas,Electric Power and Auto Manufacturing financing portfolios.As part of this,an assessment of our clients emissions and decarbonization plans is now factored into our decision-making while considering new transactions for in-scope clients in these sectors for both lending and debt capital market
127、s transactions.This assessment allows us to:1)build in a view of our clients decarbonization trajectories during the decision-making process on a potential new transaction,as a factor in our usual approval processes,and 2)assess both our clients progress and in turn,our own progress towards our targ
128、ets on an ongoing basis.12INTRODUCTIONENVIRONMENTALAdvancing Climate and Sustainability SolutionsOperational SustainabilitySOCIALGOVERNANCEESG REPORT APPENDICESOur assessment framework uses a variety of quantitative and qualitative measures to evaluate clients current emissions performance,their tra
129、ck record and future plans.Quantitatively,we collect and assess historical emissions reductions,current carbon intensity and forecasted intensity based on publicly announced emissions targets.Qualitatively,we assess actions the client has taken to drive progress,such as formulating detailed decarbon
130、ization plans,establishing clear governance and oversight of climate strategies and polices,and more.The development and implementation of our assessment framework was led by the CCT,along with partners such as key Banking and Risk Management groups.We will continue to build on our efforts in key po
131、rtfolios over time,particularly as we expand to additional targets and sectors.SUPPORTING OUR CLIENTS WITH CAPITAL AND EXPERTISEThe low carbon transition is a focus for our banking teams,and we continue to build our ability to provide tailored advice and solutions to our clients as they adapt and gr
132、ow their businesses in a changing world.Whether a client is working to transition their business model and operations to reduce emissions,or to develop and grow new technologies or solutions to help address the climate challenge,our objective is to use our capital and expertise to help them succeed.
133、As we expand our capabilities,we are able to provide clients with increasingly diverse and innovative solutions,while helping to grow the market for green and sustainable financing.For example,in October 2021,we acted as Joint Placement Agent on a$1 billion equity placement to capitalize a new passe
134、nger EV subsidiary for Tata Motors.Recognizing the potential and capital needs of the passenger EV business,the transaction was designed to attract investors seeking exposure to this segment and enable Tata Motors to accelerate its plans.As another example,in June 2021 we acted as Active Bookrunner
135、on a$1.5 billion green bond offering by NextEra Energy.NextEra owns and operates two businesses Florida Power&Light,the largest utility in the U.S.,and NextEra Energy Resources,the worlds largest generator of renewable energy from wind and solar which are working together toward a goal of reducing N
136、extEras emissions 67%by 2025 from a 2005 baseline.The bond,proceeds of which will be used to support a portfolio of renewable energy generation and storage projects,uses a mechanism to encourage transparency and accountability,by providing a coupon step-up if the company fails to produce certificati
137、on of allocation and impact within two years and 60 days of issuance.This work is further highlighted by the green objective of our Sustainable Development Target,which aims to finance and facilitate$1 trillion through the end of 2030 towards the deployment of solutions for cleaner sources of energy
138、 and supporting the transition to a low-carbon,sustainable economy.This includes transactions supporting renewable energy,clean technology,water and waste management,conservation,sustainable transportation,green buildings and energy efficiency.For more information on our progress toward our Sustaina
139、ble Development Target and examples of qualifying green transactions,see page 8.ENHANCING OUR COVERAGEAs we further implement our low-carbon transition strategy,we continue to enhance our abilities to meet client needs through both deepening expertise in our existing teams and establishing new teams
140、 specializing in green and other transition-related areas.For example:Our CIB CCT plays a key role in driving implementation of our emissions intensity reduction targets and engaging with cli-ents on sustainability-focused financing,research and advisory solutions to help guide their long-term busin
141、ess strategies.This includes providing strategic advice on clients long-term business strategies and related carbon disclosures,as well as partnering with industry and product teams to structure unique financing products across public and private capital mar-kets.The CCT has accountability to senior
142、 leadership in the CIB and CB and works in close partnership with teams across our Firm to drive achievement of our targets.Formally launched in 2021,our CB Green Economy Banking team is a specialized industry coverage team established to drive the Green Economy client franchise by providing subject
143、 matter expertise,connectivity to bank products and solutions and specialized credit underwriting efforts to the growing number of companies primarily focused on sustainable technologies,products and services.Over the past year,the team has grown in the U.S.,while also laying the groundwork to expan
144、d inter-nationally.Green Economy Banking is currently aligned with five sectors renewable energy&carbon,efficiency technol-ogy,sustainable finance,sustainable agriculture&food technology,clean energy mobility and senior Green Economy bankers have assigned sub-industry coverage within these sectors.T
145、he teams mission is to identify and support emerging and established growth companies in these key sectors.In the following section,we highlight additional teams around our Firm which are providing sustainability-focused solutions for our clients and customers.Next StepsIn 2022,we intend to release
146、a dedicated climate report,informed by the recommendations of the TCFD,which will include progress updates on our emissions intensity reduction targets and our next steps in expanding to additional sectors.13INTRODUCTIONENVIRONMENTALAdvancing Climate and Sustainability SolutionsOperational Sustainab
147、ilitySOCIALGOVERNANCEESG REPORT APPENDICESProviding Sustainable SolutionsIn combination with our low-carbon transition strategy,we also continue to grow a range of sustainability-focused financing and investing solutions across the Firm.ASSET AND WEALTH MANAGEMENTJ.P.Morgan AWM is a global leader in
148、 asset and wealth management services,which serves institutional,ultra-high net worth,high net worth and individual clients through its AWM businesses.With combined overall client assets of$4.3 trillion and assets under management(AUM)of$3.1 trillion as of December 31,2021,we are one of the largest
149、asset and wealth managers in the world.Asset ManagementJ.P.Morgan Asset Management believes that consideration of financially material ESG factors can be an important part of the investment process.We define ESG integration as the systematic inclusion of ESG issues in investment analysis and investm
150、ent decisions.In actively managed assets deemed by J.P.Morgan Asset Management to be ESG integrated under our governance process,we systematically assess financially material ESG factors in our investment decisions with the goals of reducing risk and improving long-term returns.ESG integration does
151、not change a strategys investment objective,exclude specific types of companies or constrain a strategys investable universe.In addition,we offer sustainable investment solutions to clients seeking to generate long-term returns and contribute to sustainable outcomes.For example,in 2021,we launched 2
152、0 new sustainable funds,including a range of regional sustainable equity and climate-focused funds that expand clients opportunities to support and capitalize on the transition to a low-carbon,sustainable economy,including areas such as renewable energy,recycling,and sustainable transport.Our Asset
153、Management Global Sustainable Investing team is a dedicated group that focuses on sustainable investing topics in partnership with our investment professionals globally.They provide global sustainable investing research and insights on thematic ESG issues including climate change that can be applied
154、 across asset classes they work with clients to build and implement sustainable investing solutions and they oversee our stewardship activities.In 2021,we added individuals with dedicated expertise in climate science to our Sustainable Investing team and are working to leverage new tools,including e
155、nhanced research and scenario analysis,to enable us to further consider climate risks and potential opportunities in our engagement,stewardship and investment processes.We directly engage with selected investee companies on ESG topics.In 2021 we engaged over 1,300 companies on ESG issues.We also exp
156、ress our views through our proxy voting activity.In March 2022,we published our 2021 Investment Stewardship Report outlining our global engagement,voting and stewardship activities including climate-related engagement activities.In 2021,to further support our clients climate-aware investing,we becam
157、e a signatory to the NZAM initiative,an international group of asset managers committed to supporting investing aligned with the goal of net zero greenhouse gas emissions by 2050 or sooner,in line with global efforts to limit warming to 1.5 degrees Celsius.This commitment includes:engaging with clie
158、nts to accelerate the global low-carbon transition to net zero within their portfolios,setting interim targets within the next 12 months for assets that we determine could be appropriately managed in line with net zero pathways,continuing to accelerate our corporate engagement and stewardship,and po
159、licy advocacy consistent with net zero ambitions.Thoughtful governmental policy,investments in low-carbon technologies and collaboration between the public and private sectors are all prerequisites for transitioning to a low-carbon world,J.P.Morgan Asset Management is pleased to play its part in ide
160、ntifying solutions by working with clients to develop products and solutions consistent with a net zero ambition.Global Private BankWe also continue to expand our sustainable investment offerings through J.P.Morgan Global Private Bank,which provides clients with access to multiple sustainable invest
161、ment strategies across equities,fixed income,alternatives and multi-asset portfolios.In 2021,we saw record inflows in sustainable investment portfolios and strategies and grew total sustainable AUM 60%from the prior year.In March 2021,we closed our new Global Impact Fund with over$150 million in com
162、mitments.The Fund offers a diversified portfolio of impact private investment funds constructed with the intent to advance progress toward specific United Nations SDGs.Launched in 2019,our Sustainable Equity Strategy invests in equity funds with a preference toward funds that consider ESG factors in
163、 their investment process and focus on sustainable themes,based on our internally defined criteria.In 2021,the strategy grew to more than$1.5 billion in AUM.We also continue to see enhanced client interest in thematic investing,particularly in relation to climate change.In response,we are further ex
164、panding our range of available strategies and funds.For example,we have added new fund options focused on companies leading the clean energy transition,based on the expectation that they will deliver returns as decarbonization trends accelerate across key industries and markets.We continue to invest
165、 in tools and solutions to help clients achieve their sustainable investing goals and to further raise their awareness and understanding of sustainable investment trends and opportunities.For example,in June 2021 we acquired OpenInvest,a values-based investing financial technology company.In the fut
166、ure,using proprietary technology and insights,OpenInvests platform will unlock a personalized and engaging end-to-end client experience including the ability to personalize portfolios to align with clients values and preferences,and sophisticated sustainability reporting to help clients understand h
167、ow their investments are supporting their goals and impacting the world.14INTRODUCTIONENVIRONMENTALAdvancing Climate and Sustainability SolutionsOperational SustainabilitySOCIALGOVERNANCEESG REPORT APPENDICESADVANCING SUSTAINABILITY THROUGH INVESTMENT RESEARCHWe produce robust ESG-focused investment
168、 research to meet investors needs for timely insights and analysis that support their sustainability and ESG investment strategies.In 2021,our Firm published over 900 ESG-related reports across key regions to address investors needs for strategic and thought-leading ESG analyses.Our published ESG co
169、ntent has included regular thematic thought pieces on key developments in ESG&Sustainability,collaborative pieces between ESG and Sector analysts that assessed ESG issues with industry context,and our ESGQ methodology,a proprietary scoring which combines data designed to capture the long-term corpor
170、ate responsibility profiles of companies and their evolution over time with more frequently updated data points.In addition,in the“J.P.Morgan Perspectives”series,we published several departmental ESG collaborations,most notably focusing on the challenges posed by the energy crunch,the Net Zero trans
171、ition,the cost of decarbonization and how climate innovation can accelerate the clean energy transition.Our Firm also facilitated dialogue between investors,companies and regulators on key ESG issues by hosting our 6th Global ESG Conference in 2021,which was attended by over 1,500 participants globa
172、lly.To respond to the growing client need for ESG research,we expanded our capabilities in 2021,adding ESG specialists in both our Equity Research and Global Index Research groups across various geographies.JPMorgans ESG IndicesFirst launched in April 2018,the J.P.Morgan ESG(JESG)suite of fixed inco
173、me indices consider ESG factors in the creation of a composite benchmark.The suite had more than$40 billion in assets across active and passively managed funds by 2021 year-end benchmarked against them.J.P.Morgan Index Research provides daily ESG scoring coverage for over 6,000 global corporate and
174、quasi-sovereign issuers and over 170 sovereigns.The J.P.Morgan Index Research team expanded its JESG index suite in the fourth quarter of 2021 with the launch of the J.P.Morgan ESG Global Corporate Index(JESG GCI)an ESG benchmark covering investment grade and high yield markets across USD,EUR,and GB
175、P currencies,as well as the launch of the J.P.Morgan Green Bond Index(GENIE)an ESG-aligned benchmark tracking the$1 trillion green bond market,covering green bonds across hard currency(USD,EUR,and GBP)sovereign,quasi-sovereign,supranational,corporate and local currency green government bonds across
176、31 eligible currencies.In addition,the team launched carbon analytics for J.P.Morgan sovereign and corporate fixed income indices,and published inaugural carbon footprint reports for flagship benchmarks incorporating greenhouse gas emissions data.PROVIDING ESG-RELATED FINANCING SOLUTIONSThe CIBs ESG
177、 Solutions team supports clients across our major industry verticals on their responses to ESG trends.In 2021,the ESG Solutions team helped enable clients access to ESG-focused capital across equity,debt and private markets and had a key role in several initial public offerings(IPOs)leading the ESG
178、work stream and assisting issuers during pre-IPO ESG ratings assessments.UNDERWRITING GREEN,SOCIAL AND SUSTAINABILITY BONDSThrough our business,we are a lead underwriter of sustainable bonds(green,social and sustainability bonds)and sustainability-linked bond issuances.In 2021,JPMorgan Chase was the
179、 number one underwriter of sustainable bonds,and the Firms broker-dealer subsidiaries underwrote approximately$60 billion in green,social,sustainability and sustainability-linked bonds.Our 2021 Green Bond IssuanceJPMorgan Chase issued a$1.25 billion green bond in August 2021.We allocated an amount e
180、qual to the net proceeds of that offering to support nine renewable energy investments in wind,solar and geothermal projects across the U.S.These projects are expected to produce approximately 7,000 gigawatt-hours of electricity annually,enough to supply approximately 650,000 homes with clean electr
181、icity each year.For more information,see page 73 in our ESG Report Appendices.SUPPORTING OUR MARKETS CLIENTS WITH SUSTAINABILITY SOLUTIONSWithin CIB Markets,we created the Global Markets Sustainability Center(GMSC)in October 2021 to further drive the Firms efforts in providing sustainability solutio
182、ns to institutional investors.15INTRODUCTIONENVIRONMENTALAdvancing Climate and Sustainability SolutionsOperational SustainabilitySOCIALGOVERNANCEESG REPORT APPENDICESCourtesy of Rivian Automotive,Inc.SUPPORTING CONSUMER ADOPTION OF ELECTRIC VEHICLESHeightened awareness of climate change has accelera
183、ted the automotive industrys transition to EVs and there has been a corresponding increase in interest for many consumers.JPMorgan Chase is responding by helping consumers understand and navigate this new segment and access financing to support their purchases.The EV landscape is complex and evolvin
184、g quickly,and information and guidance can be scattered and hard to find or understand for consumers.In response,Chase Auto is making investments in a new digital resource center to deliver guidance,insights and education information for first-time EV buyers.We are also working to increase financing
185、 to support EV adoption,including entering into private label relationships with EV manufacturers to provide flexible financing options to consumers.For example,in 2021 we launched a partnership with the EV company Rivian to offer private label financing as part of its effort to reimagine the vehicl
186、e purchase process.Beginning with the credit application on Rivians website,customers can self-select a retail financing structure that best fits their needs.BUILDING COMMUNITY RESILIENCE TO CLIMATE CHANGEClimate change is having a disproportionate impact on many vulnerable communities,leaving them
187、with diminished resources and a weakened ability to cope,respond and adapt.JPMorgan Chase has deployed philanthropic capital to communities around the world to support initiatives that help communities advance their resilience to climate change.Since 2019,we have committed over$13 million in grants
188、to advance resilience to climate change,including over$5 million in 2021.We supported initiatives with local organizations around the world.Examples of programs we have supported include:Training and Placing Underserved Individuals in Green Jobs.We are supporting Louisiana Green Corps in provid-ing
189、workforce training and enhanced certifications to 80 unemployed and low-income individuals,to help them secure immediate opportunities in the water management and green infrastructure industries,from young adults to individuals in mid-career experiencing economic repercussions of the COVID-19 pandem
190、ic.The program includes intensive training in basic construction skills and resilience-enhancing technologies.Mobilizing Communities to Protect Biodiversity and Combat Drought.Through a grant to The Nature Conser-vancy,we are supporting the Greater Cape Town Water Funds efforts to train local commun
191、ity members to remove invasive plants in priority source water areas in South Africa.The project aims to provide a green workforce devel-opment pipeline to combat unemployment,protect biodiversity and safeguard water.16INTRODUCTIONENVIRONMENTALAdvancing Climate and Sustainability SolutionsOperationa
192、l SustainabilitySOCIALGOVERNANCEESG REPORT APPENDICESOperational SustainabilityReducing the environmental impact of our physical operations is an important part of becoming a more sustainable organization.Our direct environmental impacts stem primarily from the operation of our more than 6,000 corpo
193、rate offices,bank branches and data centers.Our approach to operational sustainability consists of two key components:managing our carbon footprint by reducing our direct and indirect GHG emissions;and enhancing resource management and efficiency,which includes responsible stewardship of water,waste
194、 and other key resources across our operations.Managing Our GHG FootprintCreating actionable strategies for reducing our GHG footprint depends on having clear and comprehensive insight into our emissions sources and performance.Since 2005,we have been measuring and publishing our operational GHG emi
195、ssions and using that data to inform our strategies for reducing both our direct and indirect emissions,as well as offsetting the impact of the emissions we are not yet able to eliminate.Our 2021 Operational GHG FootprintJPMorgan Chases 2021 operational GHG emissions were driven by two primary activ
196、ities:powering our buildings(e.g.,electricity,heating and cooling)and business travel.Scope 1 GHG emissions include those from building operations and company-owned aircraft and vehicles.Scope 2 emissions,from purchased electricity,are the largest driver of our building-related emissions and overall
197、 operational GHG footprint.The majority of our business travel-related emissions are Scope 3 emissions from commercially operated air and rail;reimbursed personal vehicle and rental car travel;and hotel stays.A small portion of our business travel emissions are Scope 1 emissions from company-owned a
198、ircraft and vehicles.In 2020,we committed to achieve carbon neutrality across our operations annually.This commitment includes Scope 1(direct)GHG emissions from building operations and company-owned aircraft and vehicles;Scope 2(indirect)GHG emissions from purchased electricity;and Scope 3(indirect)
199、GHG emissions associated with business travel.In 2021,we met our carbon-neutral goal for the second year in a row,using carbon offsets to help us achieve neutrality.We are committed to maintaining carbon neutral operations each year going forward.Our strategy to maintain carbon neutral operations is
200、 focused on the following:Improving efficiency.Reducing energy use is our first priority.We continue to undertake a variety of energy efficiencymeasures for example,optimizing the use of heating and cooling in our buildings and to expand their implementationacross our operations.Sourcing renewables.
201、Next,we are focused on installing on-site solar systems at JPMorgan Chase properties and establishinglong-term renewable energy procurement agreements(e.g.,Power Purchase Agreements and green power supply contracts).We are working to increase the proportion being met with on-site renewable energy an
202、d off-site long-term renewable energycontracts to 70%or more by 2025.In 2021,over 20%of our renewable procurement came from these solutions.Purchasing Energy Attribute Certificates(EACs)and carbon offsets.To continue to meet our commitment to sourcerenewable energy for 100%of our global power needs
203、annually and address the remainder of our direct and indirect emis-sions,we purchase applicable EACs(e.g.,Green-E certified Renewable Energy Certificates(RECs),International-RECs)andverified carbon offsets.OUR EMISSIONS REDUCTION PATHWAYTo build on our commitment to carbon neutral operations,in 2021
204、 we announced a new target to reduce our Scope 1 and Scope 2(location-based)emissions by 40%by 2030 versus a 2017 baseline.As of the end of 2021,we had reduced Scope 1 and Scope 2 emissions by approximately 15%.Moving forward,we intend to make further progress by increasing our direct use of renewab
205、le energy,upgrading existing heating and cooling systems and optimizing building space.Over time,as we strive to reduce our operational emissions through these measures,we anticipate needing to buy fewer offsets to neutralize our emissions.On our website,you can find more information related to our
206、environmental data.17INTRODUCTIONENVIRONMENTALAdvancing Climate and Sustainability SolutionsOperational SustainabilitySOCIALGOVERNANCEESG REPORT APPENDICESOur Approach to Carbon OffsetsCarbon offsets are an important tool that enable companies to support projects that reduce GHG emissions and,in man
207、y cases,create valuable social and community co-benefits.At JPMorgan Chase,we purchase offset credits to address emissions that we are unable to abate through efficiency improvements or other measures.We purchase offset credits that have been certified by accredited third parties,which means they ar
208、e real,additional and independently verified.We also strive to source offset credits that are generated from projects located in areas where JPMorgan Chase has a presence,and that have additional co-benefits.Building Sustainability into Our New HeadquartersJPMorgan Chase is currently constructing a
209、new headquarters building to meet the needs of our workforce decades into the future.Reflecting the growing need for healthy and sustainable buildings,the 1,388-foot,60-story skyscraper is expected to be Manhattans first all-electric tower with net zero operational emissions.The design also consider
210、s indoor air quality and aims to exceed the highest industry standards in sustainability,health and wellness.In order to strengthen and guide the design and construction process,we have aligned and plan to seek final certification to the Leadership in Energy and Environmental Design(LEED)Platinum v4
211、.During demolition,we recycled,reused or upcycled 97%of the materials from our previous building,exceeding the LEED Platinum requirement by over 20%.We also utilized flexible and adaptable design strategies to drive embodied carbon reductions by using innovative materials with lower carbon content,p
212、lanning for circularity at end of life and placing an increased emphasis on minimizing waste.In addition to achieving net zero operational emissions,the new building plans to use several state-of-the-art technologies and systems to boost efficiencies,including:Intelligent building technology that us
213、es sensors,artificial intelligence(AI)and machine learning systems to predict,respond and adapt to energy needs.Advanced water storage and reuse systems to reduce water usage by more than 40%as compared to industry standard.Triple pane glazing on the facade and automatic solar shades connected to he
214、ating,ventilation and air conditioning(HVAC)systems for greater energy efficiency.The building is expected to contain many occupant health and well-being features,including:10 Doubling the amount of outside,fresh air and continuously monitoring air quality to improve the overall health and well-bein
215、g of employees.Bringing nature indoors through biophilic design,including wide use of natural plants and healthier furniture and building materials.Bringing in 30%more daylight and using circadian lighting to minimize the effects of electric light and support a healthier indoor environment,as compar
216、ed to industry standard.Highlights of our emissions reduction efforts in 2021 included the following:Data center efficiency.The Firm continues to drive improvements across its data centers by shifting information technology load to newer,more efficient data centers.We also endeavor to share what we
217、have learned with others.For instance,in October 2021,we joined the Low Carbon Patent Pledge,through which we will share several key patents related to how we efficiently cool and ventilate our data centers,with the aim of helping to speed the transition to low-carbon technology and energy sources.T
218、he Firm has long led the industry in terms of patenting intellectual property and works to deepen a culture of innovation across tech,business and operations Firmwide.Solar expansion.We continue to expand on-site solar power at our corporate office buildings and retail branches across the U.S.As of
219、December 31,2021,we have added solar installations at nearly 300 retail branches in nine states including Arizona,California,Ohio and New York,among others.Our goal is to complete solar installations at approximately 400 additional branches plus 125 car-ports,totaling over 25 megawatts(MW)of solar c
220、apacity.We are also expanding solar installations at our corporate office buildings and expect to deploy approximately 90 MW of additional solar capacity.24/7 renewable energy.In 2021,we collaborated with energy provider EDF to power our buildings in the U.K.with renewable energy around the clock.As
221、 part of this effort,our electricity consumption in the U.K.will be matched to renewable generation every minute of the day,providing us with approxi-mately 120,000 MWh of renewable electricity each year enough to power our three million square feet of offices in the U.K.,or the equivalent of about
222、33,000 homes.Promoting Health and Wellness in the WorkplaceIn addition to more traditional environmental considerations,such as energy and water efficiency,health and wellness are important aspects of our sustainable building strategy.When looking at how our buildings can affect the health and well-
223、being of our employees,we prioritize factors such as cleaning and sanitization,air-and water-quality,emergency preparedness and health service resources.As a result of our efforts,in 2021,we maintained the WELL Health-Safety Rating for Facility Operations and Management from the International WELL B
224、uilding Institute for our approximately 6,200 corporate office and retail bank branch locations globally.The WELL Health-Safety Rating is an evidence-based,third-party verified rating focused on operational policies,maintenance protocols,emergency plans and stakeholder engagement strategies to help
225、organizations prioritize the health and safety of their staff,customers,visitors and stakeholders.JPMorgan Chase was the first global financial institution to receive the WELL Health-Safety Rating in 2020.10 Data points are compared to a typical developer-led,speculative office building.18INTRODUCTI
226、ONENVIRONMENTALAdvancing Climate and Sustainability SolutionsOperational SustainabilitySOCIALGOVERNANCEESG REPORT APPENDICESEnhancing Resource Management and EfficiencyResponsible resource management is an important part of our sustainability strategy,helping us reduce our impacts while improving ef
227、ficiency and reducing costs.We are focused on reducing our water and waste footprint,along with appropriately managing the waste we generate.On our website,you can find more information related to our environmental data.We are focused on driving progress in the following areas:Conserving water.Our t
228、arget is to reduce water use 20%by 2030,compared to a 2017 baseline.As of the end of 2021,we had reduced water use by over 5%.Across many of our corporate offices and branches,we have already deployed a number of water efficiency measures,including low-flow fixtures,aerators and touch-free faucets.T
229、o build on these efforts,we are working to install smart meters across our portfolio that will allow us to collect more accurate and timely water use data.This will help us better monitor and control our water use,and to identify and prioritize further efficiency opportunities.Reducing office materi
230、als and waste.In 2021,we made progress toward our commitment to reduce office paper use by 90%by 2025,achieving a reduction of over 50%versus our 2017 baseline.We also work to recycle paper,as well as non-paper waste,throughout our buildings and branches where recycling services are available and ec
231、o-nomically feasible.In addition,we are working to optimize existing recycling services,expand such services to new locations and explore opportunities to bring composting services to more of our corporate locations with cafete-rias.To further our target of diverting 100%of electronic waste(e-waste)
232、from landfills,we carefully select ven-dors to dispose of our e-waste responsibly.In 2021 alone,our e-waste program diverted more than 490 metric tons of solid waste,avoiding approximately 3,000 mtCO2e of GHG emissions.Sourcing responsibly.We recognize that the environmental and social impact of our
233、 operations extends to our suppliers practices.As such,we seek to do business with suppliers that share our values and commitment to mak-ing a positive impact in the communities where we operate.We partner with our suppliers to assess their sustain-ability programs,develop new internal programs and
234、targets and to foster a culture of sustainability.In 2021,we began to formalize our engagement efforts with key suppliers on their sustainability efforts,including their emis-sions management programs.Through these engagements,we plan to work with key suppliers to disclose their GHG emissions,unders
235、tand their climate actions and help them build capacity to achieve further carbon reduc-tions.For more information on responsible sourcing,see page 58.Enhancing Our Communities Through BeekeepingBees are important for a strong food system,economic security and environmental resiliency,yet pollinator
236、 health continues to decline.JPMorgan Chase is committed to doing its part to help.Inspired by employee-managed beehives in several of our locations,we established a corporate beekeeping program to expand our reach and impact.In 2021,we installed 20 beehives across six of our corporate offices in Ne
237、w York,New Jersey,Delaware and other locations.These hives helped bring over 750,000 bees into these communities and helped pollinate over 450 different plant species across more than 300 square miles.In 2022,we intend to expand the program to additional locations across the U.S.19INTRODUCTIONENVIRO
238、NMENTALAdvancing Climate and Sustainability SolutionsOperational SustainabilitySOCIALGOVERNANCEESG REPORT APPENDICESSocialOur Firms success is linked to the talent of our employees and the strength of our communities.JPMorgan Chase is investing in our people through all phases of the employee lifecy
239、cle,and leveraging our resources and expertise to advance inclusive growth.At the core of these efforts is our commitment to advancing diversity,equity and inclusion(DEI)and our$30 billion Racial Equity Commitment.We utilize the power of our businesses,combined with philanthropic capital,data-driven
240、 insights and policy expertise to work toward a more inclusive,sustainable economy.2021 Highlights Select Awards and Recognition in 2021DIVERSITY EQUITY AND INCLUSION 2021 Top Corporations for Womens Business Enter-prises,Womens Business Enterprise National CouncilBest employer list for people with
241、disabilities,CAREERS&the disABLED magazineJPMorgan Chase recognized as top LGBT+workplace,Out&Equal Outie AwardBest Companies for Latinos to Work 2021,Latino LeadersHUMAN CAPITALWorlds Most AdmiredCompanies,FortuneTop Companies 2021,LinkedInDeployed or committed more than$18 billion toward our five-
242、year$30 billion Racial EquityCommitmentDeployed or committed over$450 million in philanthropic capital globally,of which over$345 million was in grant capital and over$105 million in loan and equity capitalOpened 10 new Community Center Branches,which offer resources for communities that havelacked
243、access to traditional banking,and hired more than 100 Community ManagersLaunched Morgan Health,a new business unit focused on improving the quality,efficiency andequity of employer-sponsored healthcareLaunched three new Diversity,Equity and Inclusion Centers of Excellence:Advancing Hispanicsand Lati
244、nos,the Office of Asian and Pacific Islander Affairs and the Office of LGBT+Affairs20Our Commitment to Racial Equity Increasing homeownership Expanding affordable rental housing and support for vital community institutions Growing small businesses Spending more with Black,Hispanic and Latino supplie
245、rs Improving financial health and access to banking Investing in Minority Depository Institutions and Community Development Financial Institutions Accelerating investment in employees and building a more diverse and inclusive WorkforceBy the end of 2021,we had committed or deployed more than$18 bill
246、ion toward our$30 billion goal.This was largely driven by affordable rental housing preservation and homeownership refinance areas where we had existing products and processes and could take prompt action to further our efforts.The Firm is building the infrastructure and foundation to make progress
247、on its commitment and we are taking a thoughtful approach to building long-term,sustainable infrastructure to enable our Firm to accelerate progress and reach more people going forward.There is work still to do and we know that our dedication to racial equity will extend well beyond the five-year mi
248、lestone in 2025.We are committed to updating our stakeholders on our progress.FEATUREStructural barriers in the U.S.have created profound racial inequities,which have contributed to a marked and persistent racial wealth gap.These and other inequities are the motivation behind JPMorgan Chases$30 bill
249、ion commitment to help close the racial wealth gap among Black,Hispanic and Latino communities.Informed by data and insights that highlight the challenges and point the way to effective solutions,we are leveraging our resources as a financial institution to direct capital and expand opportunities fo
250、r Black,Hispanic and Latino communities to build,sustain and pass on wealth.Our five-year commitment,announced in October 2020,brings together our business,policy,data and philanthropic expertise to advance racial equity and promote inclusive growth.It includes lending,equity and philanthropic capit
251、al,targeted in key areas:21INTRODUCTIONENVIRONMENTALSOCIALFeature:Our Commitment to Racial EquityDiversity,Equity&InclusionHuman CapitalInclusive GrowthGOVERNANCEESG REPORT APPENDICESWhat We Accomplished So Far1111 A note on terminology:All updates related to the Racial Equity Commitment noted below
252、 are focused on Black,Hispanic and Latino households,customers,clients and/or communities and that is not restated for each metric.The homeownership and small business goals are incremental units and dollars above an annual baseline that is benchmarked to 2019 business results.Our 2025 CommitmentPro
253、gress through December 31,2021INCREASE HOMEOWNERSHIP Originate an incremental 40,000 home purchase loans($8 billion)and refinance an additional 20,000 mortgages($4 billion)for Black,Hispanic and Latino households.Home Lending continues to make progress in its lending commitment to Black,Hispanic and
254、 Latino communities.Refinanced 19,000 of the 20,000 incremental loans goal,nearly$5 billion.Originated nearly 12,000 home purchase loans for Black,Hispanic and Latino households in 2021,totaling more than$4 billion.While the number of units was slightly below 2019 production volume,the firm continue
255、s to pace towards originating an incremental 40,000 purchase loans by 2025.Hired more than 150 Community Home Lending Advisors as part of our newly-established Community and Affordable Home Lending business.EXPAND AFFORDABLE RENTAL HOUSING AND SUPPORT FOR VITAL COMMUNITY INSTITUTIONS Finance the cre
256、ation and preservation of 100,000 affordable rental units through$14 billion in new loans,equity investment and other efforts.Approved funding of approximately$13 billion in loans to help preserve more than 100,000 affordable housing and rental housing units across the U.S.Created the Community Deve
257、lopment Banking Capital Solutions team to offer innovative financing options for affordable housing and community facilities by working with a broad range of capital sources.Increased Low-Income Housing Tax Credit(LIHTC)investments by$400 million.Closed on$76 million of the$500 million commitment to
258、 affordable housing preservation funds.Provide more than$300 million in additional financing to Community Development Financial Institutions(CDFIs)to support communities that lack access to traditional financing.Target an additional$100 million in New Markets Tax Credit(NMTC)investments with a focus
259、 on Black-owned or-led projects primarily serving Black populations.Invest in Vital Community Institutions and Services.Provided more than$190 million in incremental financing to CDFIs.Established a new Racial Equity Initiative,which uses NMTC investments to spur growth and inclusion.Since 2020,the
260、Firm has funded$221 million in new projects related to that effort.INVEST IN MINORITY DEPOSITORY INSTITUTIONS AND COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS Invest up to$50 million(later increased to$100 million)in the form of capital and deposits to Black,Hispanic and Latino-owned or-led Minority
261、 Depository Institutions(MDIs)and CDFIs.Invested more than$100 million of equity in 15 diverse-owned or-led MDIs and CDFIs that collectively serve more than 89 communities in 19 states and the District of Columbia.22INTRODUCTIONENVIRONMENTALSOCIALFeature:Our Commitment to Racial EquityDiversity,Equi
262、ty&InclusionHuman CapitalInclusive GrowthGOVERNANCEESG REPORT APPENDICESOur 2025 CommitmentProgress through December 31,2021GROW SMALL BUSINESSES Provide an additional$2 billion for 15,000 small business loans to Black,Hispanic and Latino communities.Building the infrastructure and foundation to hel
263、p small businesses grow through new programs,products and hiring,including:Hired 25 diverse senior business consultants to provide free one-on-one coaching for business owners in 14 U.S.cities.Mentored more than 1,000 small businesses.Hosted educational events,community workshops and business traini
264、ng sessions with more than 28,000 participants.Through government relief programs,business owners sought relief and liquidity from the U.S.Small Business Administration(SBA),including the Paycheck Protection Program(PPP)and Economic Injury Disaster Loans(EIDLs).While PPP loans are not part of the Fi
265、rms Racial Equity Commitment,JPMorgan Chase was the#1 PPP lender on a dollar basis over the life of the program,we funded more than 400,000 loans for more than$40 billion.More than 30%of those loans went to businesses in majority-minority census tracts.While small business lending volume through 202
266、1 is below 2019 levels,the Firm expects to make progress against the$2 billion small business lending commitment in the years ahead.SPEND MORE WITH DIVERSE SUPPLIERS Spend an additional$750 million with Black,Hispanic and Latino suppliers.Spent an additional$155 million with 140 Black,Hispanic and L
267、atino suppliers.IMPROVE FINANCIAL HEALTH AND ACCESS TO BANKING Help one million consumers open low-cost checking or savings accounts by opening branches in underserved communities and increasing marketing to reach more underserved,unbanked or underbanked consumers.Hire 150 community managers and ope
268、n new Community Center branches in underserved communities.Continue to invest in our real estate presence in low-to-moderate income neighborhoods around the country.Helped customers open more than 200,000 low-cost checking accounts with no overdraft fees.Opened an additional 10 Community Center bran
269、ches in low-to-moderate communities,often in urban areas with larger Black,Hispanic and Latino populations.Opened 47 out of 100 new branches in low-to-moderate income communities,many with larger Black,Hispanic and Latino populations.Hired more than 100 Community Managers in underserved communities
270、who serve as local ambassadors to build and nurture relationships with community leaders,nonprofit partners and small businesses.BUILD A MORE DIVERSE AND INCLUSIVE WORKFORCE Build a more equitable and representative workforce and hold executives accountable by incorporating priorities and progress i
271、nto year-end performance evaluations and compensation decisions for members of the Operating Committee and their direct reports.Expanded our Accountability Framework to include additional select senior leaders.Expanded the Diversity,Equity and Inclusion program to create three new employee programs
272、supporting Hispanic and Latino employees,LGBT+employees and Asian and Pacific Islander employees.The Firm pledged to hire 4,000 Black students by 2024,and exceeded the total goal this year by hiring 4,192 Black students as interns,fellows and entry-level analysts.PROVIDE PHILANTHROPIC CAPITAL TO ADV
273、ANCE INCLUSIVE RECOVERY Provide$2 billion in philanthropic capital to advance an inclusive economic recovery and support Black,Hispanic and Latino and other underserved communities.Committed$396 million toward our philanthropic target,which includes grants,low-cost loans and direct equity.23INTRODUC
274、TIONENVIRONMENTALSOCIALFeature:Our Commitment to Racial EquityDiversity,Equity&InclusionHuman CapitalInclusive GrowthGOVERNANCEESG REPORT APPENDICESAccountability and Transparency in Meeting Our CommitmentWe are holding ourselves accountable to achieving our Racial Equity Commitment.We have establis
275、hed a robust reporting and governance process for tracking our commitment and plan to publicly share our progress in future ESG reports.We also announced we intend to retain a third-party to perform an audit of this effort and plan to prepare and publish a report based on the results of the audit by
276、 the end of 2022.The Firms Community Impact organization serves as the cross-line-of-business group responsible for reviewing and reporting on the activities that align to the Racial Equity Commitment.The governance team consists of:executive owners from each line of business with accountability to
277、both the Chief Executive Officer(CEO)and the Community Impact team;community teams that are responsible for on-the-ground implementation in partnership with local market leadership teams;and the executive leadership team with CEOs from each line of business.The Public Responsibility Committee of the
278、 JPMorgan Chase Board of Directors provides oversight of this work and is briefed periodically on the Firms progress.The Firms Public Engagement team is dedicated to connecting with external stakeholders,including civil rights organizations,consumer policy groups,non-profit organizations,civic leade
279、rs,trade associations and diverse chambers of commerce.In addition to ongoing relationship building,the Public Engagement team facilitates the Chase Advisory Panel(CAP)program,a series of regular conversations between stakeholders and JPMorgan Chase senior executives.The CAP program is grounded in t
280、he Firms commitment to including diverse voices in the development of products,services and approaches,including accountability for racial equity.In 2021,Public Engagement connected with over 200 stakeholders around the Racial Equity Commitment.Whats NextINCREASE HOMEOWNERSHIPContinue our efforts to
281、 help expand homeownership for Black,Hispanic and Latino households and,in doing so,help to stabilize and revitalize communities across the country.We will continue to execute and enhance our six-pillar community and affordable strategy focused on enhancing products;increasing our people;expanding o
282、ur presence,partnerships and promotion;and supporting housing policy reform.The Firm plans to continue prudently expanding Federal Housing Administration(FHA)lending and supporting policy reforms to the FHA program,including servicing standards.EXPAND AFFORDABLE RENTAL HOUSINGExplore innovative fina
283、ncing solutions and work with new public resources to support the development of vital community facilities and new housing for individuals and families earning a wider range of incomes than conventional projects serve.Additionally,the Firm will continue to make data-driven policy recommendations ai
284、med to preserve and increase the availability of and equitable access to affordable housing for renters.GROW SMALL BUSINESSES Plan to further expand access to credit through targeted adjustments to how the Firm evaluates credit applications and introduces new product offerings.The Firm plans to also
285、 hire additional senior business consultants and expand the free one-on-one coaching program to additional cities.The Firm plans to also expand the digital lending product more broadly and continue to promote policies that would improve access to capital.IMPROVE FINANCIAL HEALTH AND ACCESS TO BANKIN
286、GContinue efforts to improve the financial health and resiliency of our customers and communities.The Firm plans to continue to open more branches,including Community Center branches in low-to-moderate income communities,hire additional Community Managers and host more financial health workshops and
287、 community events to reach more people across the country.INVEST IN MDIS AND CDFISEach MDI and CDFI is onboarded as a client and connected to the Firms expertise,network and advisory support including the Firms Advancing Black Pathways Fellows and Service Corps volunteers.24INTRODUCTIONENVIRONMENTAL
288、SOCIALFeature:Our Commitment to Racial EquityDiversity,Equity&InclusionHuman CapitalInclusive GrowthGOVERNANCEESG REPORT APPENDICESDiversity,Equity&InclusionAt JPMorgan Chase,we believe that a talent-driven company is a diverse one.That starts,first and foremost,with fostering an inclusive work envi
289、ronment where our employees are respected,trusted and encouraged to bring their whole selves to work.It also means actively working to incorporate DEI considerations into how we hire and develop our employees,design and deliver our products and services,leverage our purchasing power,invest in our co
290、mmunities,engage on public policy issues and more.We have 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 accountabilities.We hav
291、e strengthened and expanded our DEI function,and formalized the ways in which it works to drive progress on DEI matters within our lines of business and into how we serve customers,clients and communities.In short,we are managing and executing on our DEI priorities with rigor and intent,because we k
292、now that DEI is an important part of our Firms ability to deliver the best solutions for our clients and customers and to be successful in the long term.In addition to making progress toward our Racial Equity Commitment in 2021,we launched three new DEI Centers of Excellence during the year:Advancin
293、g Hispanics&Latinos,the Office of Asian&Pacific Islander Affairs and the Office of LGBT+Affairs.We know there is more work to do,and we are committed to both continuing that work and to being transparent with our stakeholders about our progress.Driving Progress Within our Own WorkplaceWe recognize t
294、hat our commitment to advance a diverse,equitable and inclusive world starts with how we put that vision into practice inside our own company.We continue to deepen how we incorporate diversity into recruiting,training,developing and retaining our employees,and we are intentional about creating inclu
295、sive career pathways within our Firm(read more on page 30).Underpinning all these efforts,we remain focused on fostering an inclusive culture that respects and champions diverse perspectives.25INTRODUCTIONENVIRONMENTALSOCIALFeature:Our Commitment to Racial EquityDiversity,Equity&InclusionHuman Capit
296、alInclusive GrowthGOVERNANCEESG REPORT APPENDICESPromotional DataGlobal Gender DataU.S.Race/Ethnicity DataMen51%Women49%White46%Hispanic20%Asian17%Black14%Other143%TOTALEMPLOYEES13TOTALEMPLOYEES1560%Men40%WomenBOARD OF DIRECTORS15BOARD OF DIRECTORS130%10%BlackOther140%Asian0%Hispanic90%WhiteOPERATIN
297、G COMMITTEE130%0%5%11%BlackOther14AsianHispanicWhite84%SENIOR LEVEL EMPLOYEES,13125%1%11%6%77%BlackOther14AsianHispanicWhite63%Men37%WomenOPERATING COMMITTEE1574%Men26%WomenSENIOR LEVEL EMPLOYEES,1512MenWomenCAMPUS&INTERNSHIP CLASS1952%48%CAMPUS&INTERNSHIP CLASS1737%63%WhiteEthnic18Additional DataTO
298、TALEMPLOYEESLGBT+164%2%People withdisabilities164%2%Militaryveterans163%2%SENIOR LEVELEMPLOYEES12Women39%Men61%GLOBALPROMOTIONS,2019Ethnic1847%White53%U.S.PROMOTIONS,201712 Senior level employees represents employees with the titles of Managing Director and above.13 Based on EEO metrics.Presented as
299、 a percentage of the respective populations who self-identified race/ethnicity: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 Board of Directors.Information for the Operating Committee includes t
300、wo members who are based outside of the U.S.14 Other includes American Indian or Alaskan Native,Native Hawaiian or Other Pacific Islander,and two or more races/ethnicities.15 Presented as a percentage of the respective populations who self-identified gender:99%of each of the Firms total global emplo
301、yees and global senior level employees,and all members of the Operating Committee and the Board of Directors.2021 Workforce CompositionIn connection with its diversity initiatives,the Firm periodically requests that its employees and Board members self-identify based on specified diversity categorie
302、s.The following presents information on self-identifications as of December 31,2021.The information according to Equal Employment Opportunity(“EEO”)race/ethnicity categories and gender is based on U.S.and global employees(including campus and internship class)respectively,who self-identified.Race/et
303、hnicity and gender information reflects all members of the Operating Committee and the Board of Directors.Information on LGBT+,veteran,and disability statuses is based on U.S.employees.16 Presented as a percentage of total U.S.-based employees and total U.S.-based senior level employees,respectively
304、.17 Based on EEO metrics.Presented as a percentage of the respective U.S.-based populations who self-identified race/ethnicity.18 Ethnic is defined as all EEO classifications other than White.19 Presented as a percentage of the respective global populations who self-identified gender.20 Represents e
305、mployees with the titles of Vice President and above.26INTRODUCTIONENVIRONMENTALSOCIALFeature:Our Commitment to Racial EquityDiversity,Equity&InclusionHuman CapitalInclusive GrowthGOVERNANCEESG REPORT APPENDICESACCOUNTABILITY FRAMEWORKExecuting on our DEI commitments requires promoting accountabilit
306、y across our Firm.Our Accountability Framework,which was launched in 2020 and enhanced in 2021,is used to evaluate senior leaders,including Operating Committee members,on behaviors,practices and progress toward goals related to the Firms diversity,equity and inclusion priorities,and to incorporate t
307、hat into year-end performance and compensation assessments.The framework includes a scorecard for tracking progress toward representation goals.CULTURE OF RESPECT,EQUITY AND INCLUSIONAcross our Firm,we continually work to create and reinforce a culture of respect,equity and inclusion,in which our em
308、ployees are empowered to be their true selves.We do so by creating forums for employee engagement,initiatives to advance inclusion and elevate diverse perspectives,and education and training programs designed to identify ways that all of our people can contribute to an inclusive culture.Our Business
309、 Resource Groups(BRGs)are an important part of how we do this.Our BRGs are inclusive groups that enable employees to share ideas,grow professionally and connect to colleagues who have similar interests.Recognizing the intersectionality of the different groups represented by our BRGs,we are taking st
310、eps to promote and facilitate cross-BRG collaboration.Our Firm currently has ten global BRGs and,at the end of 2021,approximately 48%of our employees across 54 countries were a member of at least one.See page 33 for the list of JPMorgan Chase BRGs.Our Asian,Black,Hispanic and LGBT+Executive Forums,w
311、hich bring together the senior leaders of these communities to act as ambassadors and thought leaders for Firmwide initiatives,are another way we support and foster diversity,equity and inclusion within our Firm.We continually work to promote a culture of respect that allows every employee to feel s
312、afe and empowered at work.Our Equal Opportunity,Anti-Discrimination and Anti-Harassment Statement sets forth our policies and expectations for our employees,and all employees(including both full-time and part-time employees)are required to take anti-harassment awareness training.In addition,in 2021,
313、our employees completed mandatory,Firmwide diversity and inclusion training programs,including You Belong Here,Culture of Respect and Journey to Inclusive Teams for managers.DEI Centers of ExcellenceOur Firm has established DEI Centers of Excellence to take a unified and intersectional approach to d
314、elivering impact for employees,clients,customers and the communities we serve.The Centers of Excellence play an important role in supporting the Firms commitments to advance equity and create lasting impact both internally and externally,leading our global strategies related to target populations an
315、d contributes to progress toward our Racial Equity Commitment.The Centers of Excellence also collaborate across their respective efforts to reflect the intersectionality of the different communities they represent.In addition to coordinating programs and initiatives to strengthen our internal cultur
316、e of inclusion and raise the visibility of their communities,the Centers of Excellence amplify our lines of business work to deliver inclusive products,services and advice for clients and customers.They also work with a wide array of local and national organizations in the communities we serve,lever
317、aging our Firms business expertise and philanthropic resources to help advance racial equity and economic empowerment.Our seven Centers of Excellence are:ADVANCING BLACK PATHWAYSLaunched in 2019,Advancing Black Pathways(ABP)is working to help the Black community chart stronger paths towards economic
318、 success and empowerment.It is focused on advancing career opportunities for Black talent,expanding and supporting Black-owned businesses,and improving financial health in Black communities.The ABP Fellowship program is aimed at helping Black college undergraduates get on a path to internships and e
319、ntry-level roles with the Firm after graduation.In 2021,we grew the program to 169 students,up from 74 in 2020.Nearly 90%of the 2021 Fellows went on to accept internship offers with our Firm.During the year,the Firm also expanded our Historically Black Colleges and Universities(HBCU)partnerships to
320、14 HBCUs across the country.These relationships include recruitment activities to expand career pathways for students(see page 30),as well as programs that support long-term student development and financial health.In 2021,these programs reached more than 4,800 HBCU students.Also in 2021,ABP launche
321、d a mentoring circles program,in collaboration with our Black Executive Forum and BOLD BRG.Through the program,Managing Directors provide career coaching and mentorship to more junior employees.Over 600 mentees enrolled in 2021.ABPs goal is to drive diversity,equity and inclusion within the Firm and
322、 beyond,including an effort to diversify board rooms at public companies.As part of this effort,ABP referred 75 board-ready candidates to JPMorgans Director Advisory Services program,which offers a curated,referral-based platform of independent director candidates to our corporate clients.27INTRODUC
323、TIONENVIRONMENTALSOCIALFeature:Our Commitment to Racial EquityDiversity,Equity&InclusionHuman CapitalInclusive GrowthGOVERNANCEESG REPORT APPENDICESADVANCING HISPANICS AND LATINOSAdvancing Hispanics&Latinos(AHL)was established in 2021 to advance the growth and success of Hispanic and Latino communit
324、ies across the globe.Our efforts are focused on advancing career opportunities,financial health and community development for Hispanics and Latinos globally.In 2021,AHL prepared to launch the 2022 Fellowship Program,expanding fellowship opportunities offered by the Firm to Hispanic and Latino studen
325、ts.In November 2021,AHL aligned with the Latin GRAMMY Cultural Foundation with a plan to deliver financial health education to 200 students in select Racial Equity Commitment cities and made a contribution to support fellowship opportunities in the U.S.for music students across Latin America.The Fir
326、m has also committed up to$20 million to LATTITUDE Ventures,a venture fund that invests exclusively in early-stage Latino-led and-owned technology-oriented businesses with high-growth potential.Additionally,AHL and ABP partnered to develop an internal,searchable database of Black-,Hispanic-and Latin
327、o-owned suppliers to facilitate increased spend with diverse-owned businesses.MILITARY AND VETERANS AFFAIRSEven before JPMorgan Chase established The Office of Military and Veterans Affairs in 2011,our Firm has consistently worked to honor those who have served and support their long-term success.Ou
328、r efforts are focused on attracting,retaining and developing diverse veteran talent;supporting veteran-owned businesses and entrepreneurs;increasing the financial health of veterans and military families;and supporting top veteran service organizations.JPMorgan Chase hired more than 1,200 U.S.vetera
329、ns into our company in 2021,bringing the total number of veterans we have hired since 2011 to more than 17,000.The Military Pathways Development Program works across all lines of business to offer two specialized pathways for recently transitioned veterans,which provide entry to the Firm,a defined n
330、etwork of veteran peers and programmatic support to promote career success.In 2021,we also created“CEOcircle,”in collaboration with Bunker Labs,which provides veterans,active-duty service members and military family members who are founders or executives the opportunity to advance their businesses.T
331、he no-fee,year-long program includes peer-to-peer networking,in-person sessions and a ten-week mentorship program with JPMorgan Chase.The inaugural cohort included 43 entrepreneurs from a range of industries.During the year,we also began building a pilot financial health education program tailored t
332、o the unique needs of military families.OFFICE OF ASIAN&PACIFIC ISLANDER AFFAIRSEstablished in late 2021,the Office of Asian&Pacific Islander(API)Affairs leads the execution of global programs and initiatives for the Asian and Pacific Islander community.The Asian Executive Forum serves as a collecti
333、ve voice for the API community within the Firm,and works in partnership with the AsPIRE business resource group to drive equity and inclusion for API employees across the Firm.Following a series of attacks against the API community in the U.S.and U.K.in 2021,the Firm committed$1 million to raise awareness of the urgent need to support the API community.API has also partnered with Women on the Move