JPMorgan Chase Announces $900,000 in Sustainable Infrastructure Investments and Branch Enhancements to Support Detroit’s Economic Recovery

Investments that create energy-efficient branches, boost small
business growth and commercial activity will help Detroit develop
environmentally sustainable solutions

DETROIT–(BUSINESS WIRE)–JPMorgan Chase & Co. today announced a $900,000 investment to support
sustainable infrastructure projects in Detroit. In addition, the firm is
retrofitting over 70 percent of Chase branches in the city with LED
lights and new Building Management Systems. As part of the firm’s $150
million commitment to Detroit’s long-term economic recovery and
building on its commitment
to advance sustainable solutions for clients and across its operations,
these investments are designed to boost Detroit’s continued economic
recovery.

“Sustainable infrastructure is critical to the efficient and continuous
operation of small businesses and to revitalizing commercial activity
throughout Detroit,” said Matt Arnold, Global Head of Sustainable
Finance, JPMorgan Chase. “We firmly believe that sustainability lies
at the heart of long-term economic growth and we are excited about
bringing our expertise in advancing environmentally sustainable
solutions to Detroit.”

"The City of Detroit Office of Sustainability applauds JPMorgan Chase
for its leadership in energy and sustainability through their branch
retrofits and support of Detroit non-profit organizations,” said Joel
Howrani Heeres, Director of Sustainability, City of Detroit. “By
expanding the scope of the green infrastructure and green building
practices it is engaged in throughout the city, JPMorgan Chase serves as
an example of sustainable business in Detroit making an environmental
impact that will benefit all Detroiters.”

Highlights of the firm’s sustainability investments in Detroit include:

• Branch Retrofit: As part of JPMorgan Chase’s collaboration with
  Current, powered by GE to conduct the world’s largest LED lighting
  installation and to install Building Management Systems across
  branches, the firm is retrofitting 13 branches in Detroit. The
  retrofits of branches across Detroit will cut lighting energy
  consumption by 50 percent, electric and gas consumption by 15 percent
  and water consumption from irrigation systems by 20 percent.
• Eastside Community Network: To help tackle the lack of
  affordable move-in-ready retail space for small businesses that
  struggle to manage pollution from storm water, JPMorgan Chase is
  supporting the acquisition and rehab of vacant commercial properties
  along the Mack Avenue commercial corridor to revitalize and expand
  local retail and commercial businesses and attract new businesses to
  the area. In addition, JPMorgan Chase is supporting the efforts of
  Eastside Community Network to utilize the vacant space between
  commercial properties for the development of green infrastructure that
  can mitigate drainage fees.
• The Nature Conservancy: JPMorgan Chase is supporting The Nature
  Conservancy’s work with the City of Detroit and other partners to
  create a first-of-its-kind Special Purpose District, akin to a
  Business Improvement District. The creation of a Special Purpose
  District would provide more cost effective stormwater management
  services to local businesses and multiple community and environmental
  benefits to businesses and residents, therefore supporting business
  retention, growth and employment generation in the dynamic Eastern
  Market area of the City.
• Jefferson East: JPMorgan Chase is working with Jefferson East
  to accelerate the incorporation of green building practices, such as
  the completion of new green parking lots in vacant land adjacent to
  commercial properties, into developments along the Jefferson corridor
  to create commercial spaces that aid minority small business owners.

“Detroit’s Lower Eastside neighborhoods have benefited significantly
from the revitalization of our community’s businesses,” said Donna
Givens, Chief Executive Officer, Eastside Community Network. “Thanks
to JPMorgan Chase’s ongoing financial support and employee volunteering,
we will be able to further expand the scope of our organization’s work
to help with the development of small businesses along Mack Avenue.”

Today’s announcement builds on past collaboration between JPMorgan Chase
and Eastside Community Network, The Nature Conservancy and Jefferson
East through the firm’s Service Corps program, which sends
top-performing employees from around the world on assignments that allow
them to put their skills and expertise to work on behalf of select
nonprofit partners. To date, JPMorgan Chase employees have worked with
21 organizations in Detroit through the Service Corps program.

“We are excited to collaborate with JPMorgan Chase on an initiative that
can help ensure the sustainable development of Detroit’s east Jefferson
corridor,” said Joshua R. Elling, Executive Director, Jefferson East.
“Sustainable infrastructure is key to the corridor’s long-term growth
and to the creation of equitable economic opportunities for our
residents and businesses.”

In July, JPMorgan Chase announced a commitment to source renewable power
for 100 percent of its global energy needs by 2020 and to facilitate
$200 billion in clean financing through 2025. This includes retrofitting
about 4,500 branches with new technology to cut energy consumption. As
part of this commitment, the firm is using its financial resources,
insights and expertise to help communities in Detroit and other cities
better manage sustainability challenges.

“JPMorgan Chase has been a bedrock supporter for The Nature
Conservancy’s work to develop financing structures that deliver
environmental and social benefits,” said Valerie Strassberg, Director
of Urban Conservation, The Nature Conservancy, Michigan. “Building
on the foundational guidance we received from the bank’s Detroit Service
Corps team last year, this additional support will allow our team to
move beyond concept to meaningful analysis and implementation of a
stormwater management mechanism at a scale that could be a national
model.”

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services
firm with assets of $2.6 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.

Contacts

Media:
JPMorgan Chase & Co.
Amalia Kontesi,
212-270-2376
[email protected]