JP Morgan Chase has announced that it will install new energy management and digital technologies that will increase the energy efficiency of roughly 4,500 branches across the U.S.
Chase will partner with Current, a GE company that sells energy management systems, to install an energy management system that will utilize sensors, software and lighting controls to help Chase branches reduce electric and gas consumption by 15%, and water from irrigation systems by 20%. The bank is also working with Current to pilot an installation of solar panels at Chase branches in California, with plans to introduce solar technology to thousands of other locations.
To date, 2,500 branches have been retrofitted with LED lighting, helping to cut Chase’s lighting energy consumption by 50%.
“As we think about the future of our branch and workplace, we’re always looking for smart strategies that make our business and buildings more sustainable,” said David Owen, Chief Administrative Officer of JPMorgan Chase & Co. “This technology will help us run our facilities more efficiently, reduce energy consumption and improve the experience for our clients, customers and employees.”
Chase branches will also install new software that will improve energy management and HVAC efficiency, irrigation processes and lighting and power system controls. To reduce water consumption and improve irrigation systems for outdoor plants, Chase branches will utilize an app built by Weathermatic, one of Current’s development partners.
The bank is on target to reach its goal to reduce greenhouse gas emissions 50% below 2005 levels by 2020 and continues to offset 100% of emissions generated by employee air travel on an annual basis.