JPMorgan Chase’s global head of sustainability, Heather Zichal, was hired in October 2022 for her energy policy chops. Her mandate: Guide the largest U.S. financial services firm in its quest to finance and facilitate $2.5 trillion over the next decade in sustainable development and low-carbon technologies. That money is split into two pledges. JPMorgan has already facilitated $309 billion toward its 2021 goal to orchestrated $1 trillion by 2030 in financing for renewable energy, electric vehicles, climate adaptation and other “green” initiatives. A second target to finance $1.5 trillion for security and resilience investments over 10 years was adopted last October; energy will factor heavily. “What’s top of mind for our clients is first that energy demand is rising, and clients need to meet it without putting the system at risk,” said Zichal during the latest episode of our Climate Pioneers interview series. “At the same time, energy reliability and affordability are non-negotiables. So everything — whether that’s cleaner generation, new technologies, new fuels — has to be able to prove it can support those outcomes at scale.” Nuclear technology, batteries and grid upgrades are “real bright spots” that are helping JPMorgan connect with new clients around the globe. “I think there are a lot of players in the financial services sector that similarly view this space as investable and profitable,” she said. “I think you’re going to see not only JPMorgan Chase but other banks continue to double down on this opportunity as well.” Policy maven Zichal started her…
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