JPMorgan Chase Shoots for 20 Percent Carbon Reduction

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NEW YORK, N.Y. -- JPMorgan Chase has set new plansfor emissions reductions and carbon offsetting. The firm plans to reduce its carbon emissions globally by 20 percent as well as buy carbon offsets to cover the emissions from employee air travel.

Using its 2005 emissions as a starting point, JPMorgan aims to meet its reduction goal by 2012. The company will cut its emissions though improving the efficiency of facilities, purchasing renewable energy and encouraging employees to conserve energy.

Facility projects will include improved heating and lighting, renovations at older buildings and adding energy efficiency technologies.

Greener building is nothing new to the company. In April this year Chase opened two LEED Silver certified branches in Colorado and Texas and announced plans to have 20 to 30 additional branches achieve LEED certification.

JPMorgan Chase has also been one of the leaders in the banking and financing industry to take environmental concerns in account when making business decisions. In 2005 the company adopted the Equator Principles to promote environmental and social responsibility in project financing and earlier this year helped create the Carbon Principles to assess the risks of taking part in projects that emit greenhouse gases.

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