JP Morgan Chase 2014 Annual Report Download - page 62

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2014 HIGHLIGHTS AND ACCOMPLISHMENTS
Developing local economies
and communities
• Provided $2.6 billion to low- and
moderate-income communities
through our community devel-
opment lending and equity
investments to build or preserve
35,100 units of aordable hous-
ing, serve 5,000 students, create
nearly 2,200 manufacturing jobs
and serve 380,000 patients at
healthcare facilities.
• Implemented year one of the
firm’s New Skills at Work pro-
gram, a $250 million, five-year
initiative to strengthen local
workforce systems by providing
real-time data and supporting
partners to align training with
employer and job seeker needs
(see previous page).
• Committed $5 million over two
years to help underserved youth
across the United States obtain
the skills necessary to build last-
ing careers and partnered with
other organizations to create
almost 50,000 summer jobs for
teens and learning opportunities
for more than 54,000 young
people in 14 cities. In 2014, we
released a report highlighting
best practices from our network
of nonprofit partners and identi-
fying opportunities to advance
summer youth programs.
• Expanded The Fellowship Initia-
tive, a JPMorgan Chase college-
access program for young men of
color that provides academic,
leadership and experiential learn-
ing opportunities for 120 student
Fellows in New York, Chicago and
Los Angeles to develop the knowl-
edge, skills and networks needed
to complete high school and
succeed in college and beyond.
• Expanded the impact of the
Global Cities Initiative beyond the
United States and assessed the
global competitiveness of Euro-
pean and Asian cities, convened
leaders from around the world
and broadened the reach of the
Global Cities Exchange network
of cities (see previous page).
• Exceeded 560,000 hours of
volunteer service by JPMorgan
Chase employees globally and
provided $3.3 million of technical
assistance to nonprofits through
Technology for Social Good, an
initiative utilizing our employees’
skills to develop technology
solutions for the social sector.
Honoring U.S. military and
veterans
• Continued our leadership of
the 100,000 Jobs Mission, a
coalition of employers formed
in 2011 that collectively hired
more than 217,000 U.S. veter-
ans and military spouses by
the end of 2014 and raised its
hiring goal to 300,000 hires.
From 2011 through March
2015, JPMorgan Chase has
hired nearly 8,700 veterans.
• Supported research conducted
by RAND Corporation to capture
the lessons and experiences
from 100,000 Jobs Mission com-
panies on integrating veterans
into the private sector workforce.
• Exceeded the first-year goal of
the firm’s $20 million, five-year
commitment by deploying $8
million to help U.S. military vet-
erans and their families develop
in-demand job skills, retain qual-
ity employment, increase college
graduation rates and connect to
stable housing opportunities.
• Awarded more than 750 newly
renovated, mortgage-free
homes worth over $125 million
to veterans and their families
since 2010.
Supporting small business
development
• Provided $19 billion in new credit
to small businesses across the
United States and was recognized
as the #1 lender by units to
women- and minority-owned busi-
nesses for the third consecutive
year by the U.S. Small Business
Administration.
• Launched Small Business Forward,
a $30 million, five-year commit-
ment to support small business
clusters that provide comprehen-
sive support services to entrepre-
neurs (see previous page).
• Awarded $3 million to support
small businesses making a posi-
tive impact in communities across
the United States through our Mis-
sion Main Street Grants® program.
Strengthening financial
capability
• Launched the Financial Solutions
Lab, a $30 million, five-year
initiative to identify, test and
expand promising innovations to
help Americans increase savings,
improve credit and build assets.
The first Lab competition focuses
on supporting solutions to help
consumers manage their house-
hold finances.
• Committed $35 million over two
years to support and expand
proven financial capability pro-
grams with nonprofits globally,
investing in the development of
technology-driven products and
services designed to meet con-
sumer needs, the infrastructure
to expand the availability of these
products and services, and the
research to evaluate and share
best practices with the field.
Promoting sustainable
investment
• Underwrote more than $2.2
billion in green bonds — debt
issuances where proceeds are
directed toward environmentally
beneficial or climate-friendly
purposes — in 2014.
• Provided founding sponsorship
of NatureVest, an initiative of
The Nature Conservancy to
attract investment capital to
conservation.
• Invested $5 million through a
new joint investment with the
U.K. government in Novastar
Ventures to develop early-stage
businesses that provide essential
basic services to underserved
communities in East Africa.
• Announced the first investments
through the Global Health
Investment Fund, an innovative
financing vehicle structured by
JPMorgan Chase and the Bill &
Melinda Gates Foundation, to
support the final development
and distribution of a new treat-
ment for cholera and a powerful
diagnostic for tuberculosis.
Increasing transparency with
stakeholders
• Convened senior business lead-
ers and leading national policy
groups to foster open conversa-
tions about Chase products,
policies and public policy mat-
ters that impact, in particular,
low- and moderate-income com-
munities, communities of color
and people with disabilities.
• Released an Environmental and
Social Policy Framework, after
extensive engagement with exter-
nal stakeholders, to communicate
our approach to environmental
and social risks in our business.
• Collaborated with Ceres to
engage a group of external
stakeholders in a dialogue
focused on sharing perspectives
and priorities to help us enhance
our approach to human rights.