Commercial, Demand Management, Energy Efficiency, Commercial, Sourcing Renewables - May 25, 2017 - By Amy Poszywak
JPMorgan: Building efficiency will cut emissions 20%
Photo credit: Roman Tiraspolsky / Shutterstock.com
A leader in energy efficiency within the commercial sector, JPMorgan Chase & Co. took a number of ambitious steps in 2016 that helped move the needle on its goal of reducing its greenhouse gas emissions 50% by 2020.
In early 2016, for example, the company made a splash in announcing what was called the world's largest LED single-order to-date as it planned to roll out LED lighting from GE's Current to more than 4,400 retail branches and 60 corporate offices. But that wasn't JPMorgan Chase's only move in efficiency: the company is also in the process of installing comprehensive building management systems across nearly 4,000 of its retail branches and adding thermal energy blankets above ceiling tiles in more than 1,700 retail branches.
"As part of our building efficiency efforts in 2016, we identified areas in both our retail and commercial real estate portfolios where simple, but effective, measures could be undertaken to improve building operations, and by extension reduce energy consumption and GHG emissions," the company explained in its recently released 2016 sustainability report.
The building management systems, the company says, will synchronize lighting; heating, ventilation and air conditioning, or HVAC, systems; operational hours; irrigation; and power systems to drive optimization of our operation. The thermal energy blankets, according to the sustainability report, will help maintain heating and cooling temperatures and reduce the load on HVAC systems across the retail portfolio.
Overall, JPMorgan Chase has committed to reducing its global greenhouse gas emissions by 50% from a 2005 baseline by 2020, and had recorded a reduction of about 38% from that same baseline by the end of 2016, according to the report. The building efficiency measures alone, the company said, are expected to reduce its global energy consumption and greenhouse gas emissions by nearly 20% from the 2015 baseline.
In addition to those efforts in energy efficiency, JPMorgan Chase's sustainability report also highlights its work in other clean energy areas, including its underwriting of more than $5 billion of green, social and sustainability bonds in 2016; raising of about $16.8 billion in financing for wind and solar energy projects in the U.S. since 2003; and purchasing 100% of its electricity in the United Kingdom, Germany and Luxembourg from renewable energy sources in 2016. The full report is available on the company's website.
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