JP Morgan Invests 279 Trillion Won in Climate Change Response

Source: WSJ

[Asia Economy Reporter Yujin Cho] The major U.S. investment bank JP Morgan plans to invest $2.5 trillion (approximately 2791 trillion KRW) over the next decade in companies participating in climate change response, the Wall Street Journal (WSJ) reported on the 15th (local time).

JP Morgan also announced that it is planning activities to provide relevant information to help companies accelerate the transition to a low-carbon economy.

As part of this, it is preparing an investment plan of over $1 trillion for green energy support projects using wind and solar power. Last year, JP Morgan invested about $55 billion in green energy projects.

This move follows the recent wave of low-carbon transition efforts on Wall Street. Earlier, Morgan Stanley announced on the 13th its plan to invest approximately $750 billion in low-carbon solutions by 2030.

As part of this, it intends to increase the issuance of green bonds supporting clean technology and renewable energy, and to expand investment activities in related companies.

Bank of America also pledged to transform into a financial institution leading green finance and announced plans to invest a total of $1 trillion in supporting a sustainable economy by 2030.

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