JP Morgan Chase to Share Low-Carbon Technology Patents

[Image source=AFP Yonhap News]

[Asia Economy Reporter Byunghee Park] Major foreign media reported on the 7th (local time) that the U.S. bank JP Morgan Chase has decided to share patents related to eco-friendly technology.

This follows JP Morgan's decision in April to join the Low-Carbon Patent Pledge agreed upon by Hewlett-Packard (HP), Facebook, and Microsoft.

The Low-Carbon Patent Pledge, led by HP at the time, involves the three companies sharing patents related to power and thermal energy management, data center design, and more. It is known that the three companies hold over 450 patents related to low-carbon technologies. Additionally, the three companies agreed to increase participation from other firms in the future, and JP Morgan has now decided to join the pledge.

JP Morgan stated that it will share patents related to low-carbon technologies for data centers going forward and hopes this will serve as an opportunity to accelerate the development of eco-friendly technologies and the securing of energy sources.

Large banks, including JP Morgan, operate large-scale data centers to store various types of information. Data centers must operate 24 hours a day, consuming enormous amounts of electricity and generating significant heat in the process. As a result, data centers are identified as one of the facilities that emit massive amounts of greenhouse gases.

For banks, security is crucial, and they inevitably operate large-scale data centers as the safest places to store information. JP Morgan is known to invest $12 billion annually in technology development, researching ways to reduce carbon emissions from data centers. JP Morgan also revealed that it spent $500 million in 2012 to build one data center.

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