Commercial, Energy Efficiency - November 16, 2017
JPMorgan announces LED retrofits, $900k sustainable infrastructure investment in Detroit
Building on the previously announced rollout of LED lighting across thousands of JPMorgan Chase & Co. branches — and the installation of new energy management and digital technologies at approximately 4,500 locations — the banking giant has set its eyes on sustainable infrastructure ambitions in Detroit.
The company on Nov. 16 announced a $900,000 investment to support sustainable infrastructure projects in the Motor City in addition to its plans to retrofit more 70% of Chase branches in the city with LED lights and new building management systems.
JPMorgan Chase said the 13 branch retrofit projects in Detroit are a part of its collaboration with Current, powered by GE, to conduct "the world's largest LED lighting installation" and to install building management systems across its operations. The retrofits of branches across Detroit will cut lighting energy consumption by 50%, electric and gas consumption by 15% and water consumption from irrigation systems by 20%.
"Sustainable infrastructure is critical to the efficient and continuous operation of small businesses and to revitalizing commercial activity throughout Detroit," Matt Arnold, global head of sustainable finance at JPMorgan Chase, said in a statement. "We firmly believe that sustainability lies at the heart of long-term economic growth and we are excited about bringing our expertise in advancing environmentally sustainable solutions to Detroit."
The commitment, the company said in a news release, is part of the firm's $150 million commitment to Detroit's long-term economic recovery, and building on its commitment to advance sustainable solutions for clients and across its operations, these investments are designed to boost Detroit's continued economic recovery.
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