JPMorgan Chase issues $ 1 billion in inaugural green bonds
Produced to finance green buildings and renewable energy projects
New York, September 16, 2020 – JPMorgan Chase & Co. (NYSE: JPM) (“ JPMorgan Chase ” or the “ Company ”) completed the company’s inaugural green bond issue in the aggregate principal amount of $ 1 billion dollars of fixed to floating rate notes due 2024 (CUSIP: 46647PBS4) (the notes’). The Firm intends to allocate an amount equal to the net proceeds of this issue to finance eligible green projects, which may include the financing or refinancing of projects related to green buildings and renewable energy as well as loans to clients for eligible green projects. Building on the firm’s engagement with various vendors, the bond offering co-managers consisted only of minority-owned and women-owned businesses and businesses owned by disabled veterans.
“ We are delighted to offer our inaugural green bonds, which builds on JPMorgan Chase’s leadership in the global green bond market and broadens the company’s efforts to tackle climate change, ” said Marisa Buchanan, Head of Sustainability at JPMorgan Chase. “This is an important step in our journey to sustainability, and we look forward to continuing to advance sustainable solutions that protect the environment and help ease the transition to a low-carbon economy.
Enduring bond framework
JPMorgan Chase’s inaugural Green Bond issuance is part of its company-wide sustainability strategy and was issued in accordance with the JPMorgan Chase & Co. Sustainable Bond Framework (PDF) (the ” frame”). The framework includes more details on JPMorgan Chase’s sustainable bond issuance strategy and eligible project categories and is available at www.jpmorganchase.com under About Us, Governance, ESG Information.
History of the sustainable bond market and sustainable development
JPMorgan Chase’s debut green bond issue builds on the company’s position as a primary underwriter in the sustainable bond market. In 2019, the firm’s brokerage subsidiaries underwent $ 14.6 billion in green and sustainable bonds. Representatives from JPMorgan Chase were among the co-authors of the Green Bond Principles introduced under the sponsorship of the International Capital Markets Association in 2014. Marilyn Cela, Managing Director and Global Head of ESG Debt Capital Markets, currently sits on the Executive Committee which oversees the principles of green bonds.
JPMorgan Chase is committed to creating a more sustainable future for its employees and the customers and communities it serves. In February 2020, the cabinet expanded its sustainability efforts by announcing its goal of facilitating $ 200 billion in funding in 2020 for deals that support climate action and advance the UN’s sustainable development goals. JPMorgan Chase has also supported market-based policy solutions to tackle carbon emissions, both through the Climate Leadership Council and the firm’s membership in Business Roundtable, the latter having recently released a new document from summary on climate change policy.
JPMorgan Chase strives to minimize the environmental impact of its physical operations, including through its goal of providing renewable energy for 100% of its global energy needs annually by 2020. The company is undertaking a series of projects. ” actions to bring more renewable energy to the grid, such as the installation of solar systems on site in its branches and sales offices. This includes a 2.8 MW rooftop system at the Polaris campus in Ohio, which is one of the world’s largest commercial bifacial solar module facilities.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other security, and there will be no sale of the Notes in any state or jurisdiction where such an offer , solicitation or sale would be illegal before registration or qualification under the securities laws of any such state or jurisdiction.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services company with $ 3.2 trillion in assets and operations worldwide. The firm is a leader in investment banking, consumer and small business financial services, commercial banking, financial transaction processing and asset management. Part of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s largest corporate, institutional and government clients under its JP Morgan and Chase brands. Information on JPMorgan Chase & Co. is available at www.jpmorganchase.com.
Jason Scott, 212-270-2479
Steve O’Halloran, 302-282-5699
JPMorgan Chase & Co. published this content on September 16, 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unchanged, on September 16, 2020 06:14:02 PM UTC