JPMorgan Chase 2015 Corporate Responsibility Report Showcases Efforts to Spur More Inclusive Economic Growth
Company’s global philanthropy investments are making tangible impact on individuals, businesses and communities around the world
NEW YORK, April 7, 2016 /3BL Media/ – JPMorgan Chase & Co. today released its 2015 Corporate Responsibility report, highlighting the firm’s global efforts to address complex issues that stand in the way of driving inclusive economic growth. The report, Sparking Economic Opportunity, features the perspectives of business and community leaders on creating economic opportunity and provides updates on the firm’s Corporate Responsibility initiatives supporting sustainable solutions to pressing economic challenges.
“Finding innovative ways to create more widely shared economic opportunity should matter deeply to all of us,” said Jamie Dimon, Chairman and CEO, JPMorgan Chase. “Helping cities spur growth, create jobs and arm their residents with the skills to land them isn’t charity – it’s an investment.”
The 2015 Corporate Responsibility report features real-world case studies that demonstrate how the firm is tackling financial instability, sparking economic mobility, utilizing big data to drive policy, powering small businesses and addressing the needs of young people from disadvantaged communities. Over the next five years, JPMorgan Chase will provide $1 billion globally toward programs focused on expanding access to opportunity.
“There is simply no more urgent challenge around the world than the need to create more inclusive economic growth,” said Peter Scher, Head of Corporate Responsibility, JPMorgan Chase. “We are leveraging the unique assets of our company – our people, expertise, data, technology and relationships – to make an impact on a global scale that few companies can match.”
With a focus on how to bring to bear the firm’s unique resources, the features in the 2015 Corporate Responsibility report include:
- Jamie Dimon reflects on Detroit’s turnaround in “Why Detroit Matters,” and explains how the city’s emerging recovery can be instructive for policymakers, business leaders and nonprofits around the world.
- In “Big Data to Drive Better Policymaking,” three renowned experts in data, economics and policymaking – JPMorgan Chase’s Diana Farrell, Georgetown’s Robert Groves and Urban Institute’s Sarah Wartell – discuss the power of data analytics in advancing economic progress. Created in 2015, the JPMorgan Chase Institute is a global think tank that delivers data-rich analyses and expert insights for the public good by harnessing the scale and scope of JPMorgan Chase to explain the global economy as it truly exists.
- Two former U.S. Secretaries of Housing and Urban Development – Henry Cisneros and JPMorgan Chase’s Mel Martinez – reflect on how urban development sparks social progress. Their column “How to Build Global Cities” details how smarter lending practices and other strategic initiatives can be engines of inclusion for America’s cities – especially in disadvantaged neighborhoods.
- To help close the skills gap and create more opportunities for people to obtain middle-skill jobs, JPMorgan Chase established a $250 million global initiative: “New Skills at Work.” The report profiles how its partnerships with nonprofits in the U.S., Chile, U.K., Germany, India, China and Singapore have prepared thousands of people around the world to join today’s workforce.
- The firm’s efforts in aiding underserved entrepreneurs with access to flexible capital and targeted technical assistance, is outlined in “Powering Economic Opportunity.” It features the progress of Small Business Forward, the company’s five-year, $30 million global program to support the needs of entrepreneurs.
- Inter-American Development Bank president Luis Alberto Moreno offers his perspective on how public/private partnerships can effectively drive economic development in “Tackling Inequality in Latin America.”
- Other sections of the report detail a number of real-world success stories of how JPMorgan Chase – through programs such as The Fellowship Initiative, Global Cities Initiative, Financial Solutions Lab and Detroit Service Corps – are leveraging the core strengths, capabilities and expertise of the firm, its employees and its partners to maximize economic and social impact.
For more information about corporate responsibility at JPMorgan Chase, or to read the report, please visit www.jpmorganchase.com/corporateresponsibility.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.4 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.
###
