Jp Morgan Chase & Co. · NYSE:JPM
Jp Morgan Chase & — ESG Presentation (November 2023)
16 slides from Jp Morgan Chase &'s sustainability presentation, November 2023
Slide 1: JPMorgan Chase’s Climate Strategy: Evolving our Approach to Energy, Scenarios, Targets and Emissions Disclosure
JPMorgan Chase’s Climate Strategy: Evolving our Approach to Energy, Scenarios, Targets and Emissions Disclosure Investor Relations event for the launch of the 2023 Climate Report | November 2023
Slide 2: Table of Contents
Table of Contents A Summary We explained how we conduct business and provide a summary of the key new updates in the 2023 Climate Report We expanded the focus of our Oil & Gas End Use target. Now called Energy Mix, the target encompasses a broader view of energy supply that better captures the syste
Slide 3: A note on our business
A Summary A note on our business JPMorgan Chase & Co. provides financial services for individuals, industries and geographies — regardless of political, social or religious viewpoints. We deal in facts and don’t change our policies, procedures or progress based on who’s asking. Our ambition is to wo
Slide 4: In our 2023 Climate Report, we share a number of updates
A Summary In our 2023 Climate Report, we share a number of updates about what we’re doing to engage with clients on their transitions and address our financed emissions This table summarizes the key new updates in the report and what they mean Topic Area 2022 Climate Report 2023 Climate Report What
Slide 5: We’ve updated and expanded the boundary of the Oil & Gas Scope 3 target
B Energy Mix - Overview We’ve updated and expanded the boundary of the Oil & Gas Scope 3 target to a broader Energy Mix target to better reflect how our business supports the global energy transition The Global Energy Pathway Decarbonizing Energy Supply The IEA makes clear that any decrease in fos
Slide 6: Energy Mix encompasses a broader view of energy supply
B Energy Mix - Rationale Energy Mix encompasses a broader view of energy supply that better captures the system-wide substitution from oil and natural gas to low-carbon fuels and zero-carbon electricity generation under the IEA NZE scenario 1 GLOBAL ENERGY SUPPLY (EXCLUDING COAL1) BY SOURCE IN THE I
Slide 7: We believe this updated target better captures the shift in fuel mix
B Energy Mix - Rationale We believe this updated target better captures the shift in fuel mix of the global energy complex, and balances the trade-offs between fossil-fuel based and zero- or low-carbon energy sources to achieve net zero emissions by 2050 PROGRESS TOWARD OUR PORTFOLIO-WEIGHTED AVERAG
Slide 8: We have expanded our target to include zero-carbon power generation
B Energy Mix - Rationale While we have expanded our target to include zero-carbon power generation activity from our Electric Power portfolio, we have also increased the ambition of our target The expansion to Energy Mix, which includes all zero-carbon power generation in our target’s boundary, im
Slide 9: We’ve started disclosing absolute financed emissions for sectors where we’ve set targets
C Absolute Emissions We’ve started disclosing absolute financed emissions for sectors where we’ve set targets to provide our stakeholders with additional transparency and comparability of information We have aligned our absolute financed emissions disclosure with fiscal year reporting and built on
Slide 10: We’ve updated our original targets to align with the latest science-based climate scenarios
D IEA NZE Scenarios We’ve updated our original targets to align with the latest science-based climate scenarios and net-zero by 2050 We are updating our targets set in May 2021 (Electric Power, Auto Manufacturing, Oil & Gas) to align with the IEA NZE Scenario1,2 In particular, we’ve aligned our
Slide 11: We’ve set 2030 targets for two new sectors – Aluminum and Shipping
E New Sector Targets We’ve set 2030 targets for two new sectors – Aluminum and Shipping – expanding our work with clients in carbon-intensive sectors We picked these sectors because they are high-emitting but they have opportunities to decarbonize, such as alternative fuels in shipping and lower c
Slide 12: Reducing methane emissions and flaring in the Oil & Gas sector is an immediate action
F Methane Reducing methane emissions and flaring in the Oil & Gas sector is an immediate action that can produce positive outcomes for companies and stakeholders GOOD FOR ENERGY SECURITY Background on Methane Bringing more natural gas to the global market enhances energy security Sources of global
Slide 13: How JPMorgan Chase works to enhance methane measurement and mitigation
F Methane How JPMorgan Chase works to enhance methane measurement and mitigation We work across multiple segments of our business to actively identify and engage with companies that are developing promising technologies and bringing low carbon solutions to market — including those focused on methane
Slide 14: We identify eight interrelated elements for Oil & Gas companies to consider
F Methane We identify eight interrelated elements for Oil & Gas companies to consider implementing in their methane and flaring management plans ELEMENT BEST-IN-CLASS ACTION POSITIVE ACTION 1 Target setting Publicly set a 2025 methane emission intensity target at Set a methane-specific emissions red
Slide 15: Notes Slide
Notes Slide Slide 6 Source: IEA World Energy Outlook Note: 2019 data, and 2030 and 2050 IEA SDS Scenario projections are sourced from World Energy Outlook 2021 (Table A.1a: World energy supply and Table A.1c: World energy supply, respectively) published in October 2021. 2030 and 2050 IEA NZE Scenari
Slide 16: Notes Slide
Notes Slide Slide 12 1. Global Methane Tracker 2023, IEA, Paris 2. Global Methane Tracker 2023, IEA, Paris 3. Global Methane Tracker 2023, IEA, Paris 4. Global Methane Tracker 2023, IEA, Paris 5. Sixth Assessment Report of the Intergovernmental Panel on Climate Change (IPCC), IPCC, New York 6. Accor