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JPMorgan Provides Nearly $200 Billion Sustainable Finance in 2022

According to the bank's Annual Report released on Tuesday, JPMorgan Chase's sustainable finance activity decreased by approximately 30% in 2022, with the bank financing and facilitating $197 billion in climate, community development, and sustainable development projects and initiatives during the year, down from a record $285 billion in 2021.

With the decline, JPMorgan is falling behind schedule in its 10-year sustainability targets, which were announced in April 2021 to finance and facilitate more than $2.5 trillion over 10 years to advance sustainable development, including $1 trillion to support green initiatives, with $482 billion and $176 billion achieved to date, respectively.

The report detailed JPMorgan's sustainable finance work over the previous year. The $197 billion mobilised in 2022 was divided into three categories: green ($70 billion), development funding ($87 billion), and community development ($40 billion).

The corporate and investment bank (CIB) division accounted for the majority of activity, facilitating $164 billion in transactions towards the $2.5 trillion target, primarily by leading or participating in ESG-related bond issuances, providing derivative hedging, and advising on M&A transactions. In addition, the annual report outlined CIB's intentions to "extend our coverage of clients engaged in the green economy and low-carbon transition, create new products, and allocate capital to finance ESG objectives."

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