Where banks see profits in the green economy


Even before the banks are confronted pressure from the Biden administration To begin to take into account the risks associated with climate change, many have seized the opportunities associated with the transition to a low-carbon economy.

Efforts to tackle climate change are giving rise to new technologies, upgrades to existing infrastructure and new jobs. They are stimulating new demand for specialist finance, capital market advice and even retail banking products. Bankers have also made it clear that they prefer to work with high carbon clients to help them reduce their own carbon footprint, rather than abandon those clients.

In his annual letter to shareholders, Jamie Dimon, CEO of JPMorgan Chase, called climate change “the critical problem of our time” and stressed that banks should be part of the solution.

“There are huge opportunities in sustainable, low-carbon technologies and businesses. While many of these technologies and companies are mature, many more are just beginning – and more will need to be created in the decades to come, ”he wrote. “In addition, all businesses will need capital and advice to help them innovate, scale and become more efficient while remaining competitive in a changing world.

Here are some examples of how banks are capitalizing on the transition to a greener economy.

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