I am honored to share that JPMorgan Chase has been recognized by FORTUNE — for the third year in a row — as a top company changing the world.
Almost one year ago, we launched AdvancingCities, a $500 million, five-year investment to help more people benefit from economic growth. This year, FORTUNE highlights our first major AdvancingCities investment outside the U.S. - $30 million to drive inclusive growth in Greater Paris. The full resources of the firm are supporting underserved entrepreneurs and skills training in areas where 1.5 million Parisians live in poverty and there are high levels of unemployment. Our investment has brought together local government, business and community leaders to create economic opportunity for so many of those who have been left behind.
I also want to share that FORTUNE recognized Business Roundtable which, under Jamie Dimon’s leadership as Chairman, has helped to galvanize business to play a critical role in creating economic opportunity for more people. I encourage you to read their modernized Statement on the Purpose of a Corporation, which lays out large employers’ commitment to all stakeholders, including their employees and communities. It is signed by over 170 CEOs.
This year’s recognition builds on the work our firm has been engaged in over the last few years. In 2017, FORTUNE ranked JPMorgan Chase #1 on its Change the World list, showcasing our $200 million investment in the revitalization of Detroit, and last year the magazine highlighted how our philanthropy and branch expansion efforts are helping tackle community challenges, boosting growth and creating more widely shared prosperity for Greater Washington, D.C. residents and entrepreneurs. Our inclusion on the list this year demonstrates how we‘re scaling our best programs in Greater Paris.
We know that the greatest challenges can only be solved when public and private institutions work together. We're combining the best of our business, employee expertise, partnerships and data to help more communities benefit from a growing economy.
I hope you will take a moment to read the articles and, as always, welcome your feedback and suggestions.
Peter L. Scher Head of Corporate Responsibility Chairman of the Mid-Atlantic Region JPMorgan Chase & Co.
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