The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

JPMorgan Chase UK Offices to be Powered by 100% Renewable Electricity

JPMorgan Chase UK Offices to be Powered by 100% Renewable Energy
10 November 2021
 

JPMorgan Chase and EDF, Britain’s biggest generator of zero-carbon electricity, have collaborated to help power JPMorgan Chase’s UK offices with 100 per cent renewable electricity in support of its commitment to carbon neutrality in its operations.

EDF will provide JPMorgan Chase with approximately 120,000 megawatt-hours (MWh) of renewable electricity each year to power more than 3 million square feet of offices across the UK, which is the equivalent of powering nearly 33,000 households in the UK.

JPMorgan Chase’s electricity consumption will be matched to renewable generation on a 24/7 basis. Matching will take place on a half-hourly basis, through source-specific access to EDF’s 8 terawatt-hours (TWh) of Power Purchase Agreement (PPA) portfolio.  

 

Image

 

Accurate and Auditable of the Investment Bank's Carbon Footprint

 

This agreement is thought to be a first for UK large business electricity supply, with a real-time view of energy sourcing and associated carbon footprint.

The energy provided to JPMorgan Chase will be monitored utilising ClearTrace’s patented blockchain-based energy-tracking technology to ensure that the electricity consumed is matched digitally, in real-time, to renewable generation. JPMorgan Chase will have an accurate and auditable view of its carbon footprint, 24 hours a day, 7 days a week.

Raghav Singh, Head of Large Business at EDF said: “We are delighted to be working with JPMorgan Chase and supporting them with their sustainability commitments. Thanks to our strength and expertise in renewable PPAs and supply, we have delivered an innovative, tailored solution for JPMorgan Chase. Zero carbon electricity will be essential for British businesses to achieve Net Zero and we are proud to be supporting our customers on their journeys, delivering solutions that meet their diverse requirements.”

Jon Denial, Chief Administrative Officer for JPMorgan Chase in Europe, the Middle East and Africa said: “We are pleased to collaborate with EDF to deploy this leading-edge technology, which gives us around-the-clock visibility into our energy consumption and the corresponding renewable generation across our entire UK portfolio. This construct sets a high bar for responsibility and transparency in renewable energy sourcing.”

Picture: a photograph of the Chase Lounge at the Russell Center, showing a seating area

Article written by Ella Tansley | Published 10 November 2021

Share



Related Articles

Business Leaders to Present Research Report to Ministers on Net-Zero Development

A coalition of local leaders, including Conservative mayors and energy business, Siemens, have joined forces to lobby the Chancellor to pledge £5bn toward renewable...

 Read Full Article
Rinnai’s New Carbon Cost Comparison – Online and On Demand

Rinnai continues to make innovations in both products and service in helping reduce the carbon footprints of all sites and applications with the introduction of the...

 Read Full Article
West Berkshire and Reading Borough Councils Pilot Smart Energy Systems

A pilot project to create a smart energy system in Thames Valley has successfully connected four of West Berkshire Council’s sites to the growing network. The...

 Read Full Article
Sodexo Partners With Quorn on World’s First Carbon Neutral Contract Catering Solution

Meat-free brand Quorn has joined forces with Sodexo to launch Carbono Cero, the world’s first carbon-neutral solution for food services. The contract catering...

 Read Full Article
How Technology and Smart Buildings Will Support the Daunting Retrofit Challenge

How will the intersection of retrofits, smart homes and digitally transformed building maintenance help the UK to achieve net-zero emissions by 2050? Nik Flytzanis,...

 Read Full Article
Designs for New York’s Largest All-Electric Tower Unveiled

JPMorgan Chase has unveiled the design for its new global headquarters at 270 Park Avenue – set to be New York City’s largest all-electric tower with net-zero...

 Read Full Article
MedTech Company Looks to Solve NHS' Clinical Waste and Plastic Problem

A British MedTech company is helping the NHS to reduce CO2 emissions in its clinical waste disposal by 95 per cent. It is hoped that this will save tens of millions of...

 Read Full Article
FMs Have Four Weeks to Apply for Electricity Generation Funding

Facilities management companies that own or operate commercial electricity generation have just four weeks left to apply for funding that will help them update their...

 Read Full Article
Sustainable Design in the Construction Sector

100 senior executives of UK construction firms were interviewed on sustainable design and engineering. The construction firms involved have collectively been involved...

 Read Full Article
LSE Secures £175m for Green and Social Projects

The funding for the London School of Economics and Political Science includes the development of a new building, 35 Lincoln’s Inn...

 Read Full Article