JPMorgan Chase Annual Corporate Responsibility Report Highlights Model for Impact
April 26 2017 - 8:00AM
Business Wire
Report showcases the firm’s data-driven,
strategic focus on universal drivers for inclusive growth
JPMorgan Chase & Co. today released its annual Corporate
Responsibility report, highlighting the firm’s model for impact,
which combines business and philanthropic resources to drive
inclusive economic growth. The report features JPMorgan Chase’s
$100 million investment in Detroit’s economic recovery, the firm’s
most comprehensive initiative to date, as a proof of concept for
how the firm’s model can effectively make a meaningful impact in
communities around the world.
“The same attributes that drive business success — innovation,
ingenuity and the ability to efficiently marshal human and
financial capital — also offer tremendous promise to help solve
pressing societal challenges,” said Jamie Dimon, Chairman and
CEO, JPMorgan Chase. “The private sector has not only a moral
obligation but also a deeply vested interest in delivering on this
potential for public good. Why? Because businesses flourish when
the communities they operate in succeed.”
Specifically, the Corporate Responsibility report reviews how
the firm has reimagined its approach to corporate responsibility
over the past five years. Along with deploying approximately $250
million globally in 2016, JPMorgan Chase is leveraging its
worldwide presence, talent and resources to invest in four
universal drivers of inclusive economic growth: jobs and skills,
small business expansion, neighborhood revitalization and financial
health.
These initiatives are helping people move up the economic ladder
by arming workers with the skills for today’s well-paying jobs;
building capital bridges for underserved entrepreneurs; spreading
prosperity to neighborhoods outside the urban core; and unlocking
financial innovation to help struggling consumers.
The firm’s $100 million investment in Detroit aligns with
corporate responsibility’s key initiatives and deploys firmwide
skills, expertise, data, relationships and resources to make a
positive contribution toward the city’s comeback. While helping to
revitalize the city, this effort has also yielded lessons that are
instructive for how to solve challenges and create economic
opportunity in other cities around the globe.
“Creating greater economic opportunity must be a responsibility
and an imperative for all of us,” said Peter Scher, Chairman of
the Greater Washington, DC region and Head of Corporate
Responsibility, JPMorgan Chase. “While financial capital is
important in helping advance this cause, money alone does not solve
complex societal challenges. A critical and deliberate part of our
comprehensive strategy is strengthening the underlying
organizations and systems that are needed to empower communities to
deliver and sustain change.”
In addition to Detroit, the report reviews how the firm is
putting its corporate responsibility model into action around the
world. It features perspectives from notable leaders such as
Detroit Mayor Mike Duggan, New Orleans Mayor Mitch Landrieu, Denver
Mayor Michael Hancock, London Mayor Sadiq Khan, former U.S. Senator
Mel Martinez, former President of Entertainment at Telemundo Nely
Galan, Beverly Johnson and Lebron James, among others.
The initiatives highlighted in the report are building the
capacity of nonprofits in Detroit through the firm’s Detroit
Service Corps; using actionable data from the JPMorgan Chase
Institute to inform small business efforts in Detroit; preparing
the next generation of workers in Denver and New Orleans; bridging
the skills gap through data in South Africa; creating greater
inclusive growth in East London; expanding capital to underserved
small businesses in Texas; creating prosperous neighborhoods in
Atlanta, Chicago, Miami and New York; and boosting the financial
health of families around the world.
For more information about corporate responsibility at JPMorgan
Chase, or to read the report, please visit
https://www.jpmorganchase.com/corporate/Corporate-Responsibility/cr-2016-overview.htm.
About JPMorgan Chase
JPMorgan Chase & Co. is a leading global financial services
firm with assets of $2.5 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.
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Media:JPMorgan Chase & Co.Steve O’Halloran, 302-282-5699
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