2011 Corporate Responsibility Report - JPMorgan Chase

that sources sustainably and whose products
make food production more efficient.
Leading in the Smart Grid
J.P. Morgan participated in a number of
transactions in 2011 with clients focused
directly on increasing the efficiency of
distribution and consumption of electricity.
According to the Energy Information
Administration (EIA), approximately 7% of
electricity transmitted in the U.S. alone is
lost due to inefficiencies and bottlenecks
in the electrical grid.
In 2011, J.P. Morgan acted as sole financial
advisor to Toshiba in the year’s largest smart
grid deal in its $2.3 billion acquisition of
Landis + Gyr, a maker of smart meters and
other products for the smart grid. Of note,
Asiamoney selected Toshiba Corporation’s
acquisition of Landis + Gyr as “Japan Deals
of the Year: Best M&A.” Other important
transactions included acting as exclusive
financial advisor to eMeter on its sale to
Siemens, co-leading Itron’s $800 million
refinancing, and acting as joint global
coordinator and joint bookrunner for Elster’s
$361 million senior notes offering and
$240 million secondary offering, respectively.
Financing a Brighter (and More Efficient) Future
J.P. Morgan has raised approximately
$750 million for Light Emitting Diode (LED)
manufacturers to date. According to the
EIA, lighting consumed approximately 18%
of all electricity in 2010. LED technology,
if deployed widely, could reduce lighting
electricity consumption by 19% in 2020, 46%
in 2030, and greenhouse gas emissions by
210 million metric tons in 2030.
Making Buildings More Efficient
In 2011, Chase provided approximately
$265 million to public sector clients ranging
from cities, universities and hospitals to
make their buildings more efficient and
reduce carbon emissions.
WALKING THE WALK:
GREENING OUR OPERATIONS
JPMorgan Chase completed
the renovation of our 1.3 millionsquare-foot
270 Park Avenue
corporate headquarters in
2011 and achieved the highest
Leadership in Energy and Environment
Design (LEED) ® certification, Platinum. U.S.
Green Building Council CEO Rick Fedrizzi
called our renovation a “game changer” by
noting that “this is the highest-performing
renovation of them all. It is a stunning
achievement.” And while the renovation
was occurring, our employees continued
to conduct business as usual, seamlessly
meeting the needs of our clients.
Sustainability Council
Recognizing that efficient and innovative
resource management requires strong
business commitment, in 2011 we established
a Sustainability Council to guide and
direct the firm’s efforts to improve the
environmental performance of its operations.
Senior leaders from our business units as
well as our corporate functions sit on the
Council and oversee recommendations and
programs devised by a set of Sustainability
Working Groups (SWGs). The SWGs are
organized along themes of energy, paper,
waste/recycling and supply chain, and are
staffed by employees from across our lines
of business and corporate functions. The
OEA coordinates and facilitates these groups
and other initiatives to meet the firm’s key
environmental objectives for operations.
Firm Operations
JPMorgan Chase operates in more than
6,000 facilities in 60 countries ranging from
retail bank branches to office buildings, data
centers and operations centers. Altogether
we occupy more than 70 million square
feet of space globally and service 50 million
customers. Throughout our operations, we
focus on five environmental impacts:
1) Greenhouse gas emissions (GHG) from
energy use in our buildings (electricity
and fuels)
2) GHG emissions from employee air travel
3) The lifecycle impacts of the paper we
purchase and use
4) The lifecycle impacts of the products
and services we purchase more
generally (e.g., technology equipment,
building materials, transportation and
distribution services, etc.)
5) The solid waste produced from
our operations
2011 CORPORATE RESPONSIBILITY REPORT 63