Advancing a Sustainable and Inclusive Economy

JPMorgan Chase released its annual ESG Report on the firm's efforts to run a healthy, vibrant company that is helping to advance a more sustainable and inclusive economy. We are bringing together the best of our business to help address economic and societal challenges like climate change and the racial wealth gap. "This is a pivotal time for society — government, business and community leaders must move from empty statements and lofty intentions to tangible actions," says our Chairman and CEO Jamie Dimon."That is why our company is beginning to implement ambitious targets and commitments to help drive equity and create a more resilient world." Our Approach to ESG JPMorgan Chase released its annual ESG Report on the firm's efforts to run a healthy, vibrant company that is helping to advance a more sustainable and inclusive economy. We are bringing together the best of our business to help address economic and societal challenges like climate change and the racial wealth gap. "This is a pivotal time for society — government, business and community leaders must move from empty statements and lofty intentions to tangible actions," says our Chairman and CEO Jamie Dimon. "That is why our company is beginning to implement ambitious targets and commitments to help drive equity and create a more resilient world." 1. Advancing climate and sustainability solutions The finance sector has an important role to play in tackling climate change, particularly in mobilizing the capital necessary to develop new technologies and build sustainable infrastructure. Our $2.5 trillion target for sustainable development by the end of 2030 exemplifies our approach to critical ESG issues. It includes $1 trillion for green initiatives to support climate action, such as renewable energy and innovative technologies — last year alone we deployed more than $100 billion toward that target. We were the first large U.S. bank to set Paris-aligned 2030 targets, which we set as portfolio-level emission intensity reduction targets for key sectors. We're also helping clients in carbon-intensive industries transition to a lower-carbon world: We served as Joint Lead Arranger for more than $2 billion in financing for the 800 megawatt Vineyard Wind project, expected to be the U.S.'s largest source of offshore wind power. We acted as Joint Placement Agent on a $1 billion equity placement to capitalize a new passenger EV subsidiary for Tata Motors. 2. Our Racial Equity Commitment We're working to help close the racial wealth gap through our $30 billion Racial Equity Commitment. More than $18 billion was deployed or committed toward our $30 billion commitment by the end of 2021. This includes: 1) Increasing homeownership and affordable housing. Approved funding for approximately $13 billion in loans to help preserve more than 100,000 affordable housing and rental units across the US. Expanded our homebuyer grant program to $5,000 and continue to expand Federal Housing Administration (FHA) lending. Hired more than 150 Community Home Lending Advisors in Black, Hispanic and Latino communities. 2) Growing Black, Hispanic and Latino owned small businesses. Mentored more than 1,000 small business owners and hosted educational events, community workshops and business training sessions with more than 28,000 participants. Spent an additional $155 million with 140 Black, Hispanic and Latino suppliers, in addition to helping more diverse-led companies get information on how to get certified with our Supplier Diversity Network. 3) Catalyzing community development. Invested more than $100 million of equity in 15 diverse-owned or -led Minority Depository Institutions and Community Development Financing Institutions (CDFIs) that collectively serve more than 89 communities in 19 states and D.C. In addition, we provided more than $190 million in incremental financing to CDFIs. This $100 million investment will help these institutions hire staff, invest in technology enhancements and expand into new markets. 4) Improving financial health and access to banking. Helped customers open over 200,000 low-cost checking accounts with no overdraft fees. Opened 10 new Community Center branches in areas with large Black, Hispanic and Latino populations, and opened 47 new branches in low-to-moderate income communities. Hired more than 100 Community Managers to educate residents on budgeting, savings and building credit, while offering free financial health workshops to help them reach their financial goals. 5) Accelerating our own diversity, equity and inclusion initiatives. Expanded our DEI program to include three new Centers of Excellence: Advancing Hispanics and Latinos, The Office of Asian and Pacific Islander Affairs, and The Office of LGBT+ Affairs. Building diverse teams not only strengthens our business and our culture, but also broadens the range of ideas and solutions we can offer. That's why we are applying a DEI lens to how we hire and develop talent. By the end of 2021, 20% of our employees self-identified as Hispanic, 17% as Asian and 14% as Black. Expanded our partnerships with HBCUs across the U.S. to deepen our campus and hiring pipeline relationships. We're also supporting policies that promote equality by: Helping Americans who have no credit file begin to gain access to credit and affordable loans. Expanding access to Small Business Administration loan programs. Diversifying the appraisal industry and funding to increase supply of affordable homes for purchase. 3. Corporate governance and ESG oversight We are committed to setting high standards in our business activities and with our stakeholders. Our governance structures are designed to promote accountability, transparency and ethical behavior, consistent with our corporate standards and Business Principles. We believe that continued success rests on adherence to our Business Principles, which focus on how we strengthen, safeguard and grow our company. Our strong corporate governance practices help us protect the interests of stakeholders, including customers, clients, employees, shareholders and communities. We engage with our firm's stakeholders to learn their needs and perspectives, and to share information about our firm's strategy, practices and performance. The insights we gain from stakeholder engagement informs our products, services and business practices — including our Racial Equity Commitment and Sustainable Development Target. Closing thought from Jamie: "There is no doubt we — both as a company and society — have a long way to go. We may not get it right every time, but we strive every day to do the right thing." To learn more about JPMorgan Chase's approach to sustainability, please visit JPMorganChase.com/impact/sustainability If you received this email from a friend, subscribe now to receive future updates. To unsubscribe, please click here. © 2022 JPMorgan Chase & Co. | 383 Madison Avenue, New York, New York