JP Morgan Chase 2013 Annual Report Download - page 33

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Improving Educational Outcomes for Young Men of Color
We’re also willing to roll up our sleeves. Over the last four years, our employees coached 24 young men of color
from low-income New York City neighborhoods — where less than 30% of black and Hispanic males graduate from
high school — in an end-to-end program that supplemented their academics, gave them leadership training and
helped them apply for college. All 24 got into college — they started last fall — with $8 million in scholarships, and
we’re hoping we see them this summer in internships here.
Attracting Private Capital to Social and Environmental Challenges
Foundations and governments, with their limited resources, can do only so much to solve the challenges facing
low-income populations around the world. To make progress at the scale required, we need to create vehicles
that attract private capital and apply it to generate measurable social and environmental benefits — alongside
financial returns. The Global Health Investment Fund that we established with the Bill & Melinda Gates Foundation
raised private capital to invest in new drugs and vaccines, emerging diagnostic tools, child-friendly formulations of
existing products, and technologies to reduce maternal and infant mortality — all focusing on diseases that dispro-
portionately aect the world’s poorest countries. By including global access requirements, products are avail-
able at aordable prices to the populations most in need. And we’re working now with The Nature Conservancy
to establish a new center for natural capital investing that will structure transactions that generate revenue from
sustainable use of a property — monetizing habitat protection, water conservation, sustainable timber harvesting,
wetlands, etc. Stay tuned for more on that.
Serving Cities as Clients and the Engines of Economic Growth
JPMorgan Chase continues to focus on ways to help metropolitan communities operate and grow. We oer states and
cities our best advice and considerable financial support. Last year, the firm provided more than $85 billion in capital
or credit to nearly 1,500 government entities, including states, municipalities, hospitals, universities and nonprofits.
We extended the reach of our Global Cities Initiative with The Brookings Institution by creating a network of trading
cities across the United States and ultimately around the globe — these are cities that will build new commercial
relationships by strengthening trade and investment ties and by learning from each other about how to grow
industries with real export potential. Our Global Cities Initiative with Brookings, which we launched two years ago,
includes a $10 million financial commitment and the ability to tap our network of relationships around the world to
convene an extraordinary series of events in cities from Los Angeles to São Paulo. These sessions bring together
policymakers, business leaders and non-governmental organizations to share best practices and formulate strate-
gies for improved competitiveness. As a result of these meetings, participants are developing locally driven, action-
able strategies to strengthen their respective region’s trade and investment practices.
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• Emerging markets. As the world grows, so
does the number of countries and compa-
nies that we can serve. Every time we open
an operation in a country, we support
companies from around the world to do
business there – and we help the country’s
companies explore the world. The network
eect is huge and hard to duplicate.
Taking everything on balance, all the risks
and all the opportunities in what essen-
tially is an improving and growing world,
we remain optimistic about the future of
banking.