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JPMorgan Chase Issues $1 Billion Inaugural Green Bonds
New York– September 16, 2020
Proceeds to fund green buildings and renewable energy projects
New York, September 16, 2020 - JPMorgan Chase & Co. (NYSE: JPM) (“JPMorgan Chase” or the “Firm”) has completed the Firm’s inaugural green bond issuance of $1 billion aggregate principal amount 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 issuance to fund eligible green projects, which may include the financing or refinancing of projects related to green buildings and renewable energy as well as lending to clients for eligible green projects. Building on the Firm’s engagement with diverse suppliers, the co-managers for the bond offering consisted solely of Minority and Women-Owned Business Enterprise and Service-Disabled Veteran-Owned Business firms.
“We are thrilled to offer our inaugural green bonds, which build on JPMorgan Chase’s leadership in the global green bond market and expands on the Firm’s efforts to address climate change,” said Marisa Buchanan, Head of Sustainability at JPMorgan Chase. “This is an important step in our sustainability journey, and we look forward to continuing to advance sustainable solutions that protect the environment and help facilitate a transition to a low-carbon economy.”
Sustainable Bond Framework
JPMorgan Chase’s inaugural green bond issuance is part of its firmwide sustainability strategy and was issued in accordance with the JPMorgan Chase & Co. Sustainable Bond Framework (PDF) (the “Framework”). 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 in the Sustainable Bond Market and Sustainable Development
JPMorgan Chase’s inaugural green bond issuance builds on the Firm’s position as a lead underwriter in the sustainable bond market. In 2019, the Firm’s broker-dealer subsidiaries underwrote $14.6 billion in green bonds and sustainable bonds. Representatives of 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 Ceci, Managing Director and Global Head of ESG Debt Capital Markets, currently serves on the Executive Committee that oversees the Green Bond Principles.
JPMorgan Chase is committed to creating a more sustainable future for its employees and the customers and communities that it serves. In February 2020, the Firm expanded its sustainability efforts by announcing its goal to facilitate $200 billion in financing in 2020 for transactions that support climate action and advance the United Nations Sustainable Development Goals. JPMorgan Chase has also supported market-based policy solutions to address carbon emissions, both through the Climate Leadership Council and the Firm’s membership in Business Roundtable, the latter of which recently published a new position paper on climate change policy.
JPMorgan Chase strives to minimize the environmental impact of its physical operations, including through its goal to annually source renewable energy for 100 percent of its global power needs starting in 2020. The Firm is undertaking a range of actions to bring more renewable energy onto the grid, such as installing on-site solar systems at its retail branches and commercial offices. This includes a 2.8 MW rooftop system at the Polaris campus in Ohio, which is one of the world’s largest commercial installations of bifacial solar modules.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities, nor shall there be any sale of the Notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to 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 firm with assets of $3.2 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
Jason Scott, 212-270-2479
Steve O’Halloran, 302-282-5699