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J.P. Morgan Asset Management

PRI reporting framework 2020

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Promoting responsible investment

SG 09. Collaborative organisations / initiatives

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

The U.N.-supported Principles for Responsible Investment (PRI) initiative is an international network of investors working on a voluntary basis to incorporate environmental, social and governance issues into investment practices across asset classes. J.P. Morgan Asset Management became a signatory to the PRI initiative in 2007 and has participated in the annual PRI-in-person sessions as well as engaged with PRI representatives.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

J.P. Morgan Asset Management supports CDP's efforts to promote standardized disclosure from companies on greenhouse gas emissions and climate change risk management. The Firm is also a respondent to CDP's annual climate change information request.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

JPMAM supports CDP Water's efforts to promote standardized disclosure from companies on climate change risk management including water security. The Firm is also a respondent to CDP's annual climate change information request.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

J.P. Morgan Asset Management supports the Extractive Industries Transparency Initiative, a global standard that promotes revenue transparency and accountability in the extractive sector.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

JPMorgan Asset Management’s parent company, JPMC is a member of the GIIN's Investors' Council, a forum for experienced impact investors. J.P. Morgan Asset Management is also engaging with the GIIN to explore ways to partner on opportunities for institutional investors. The GIIN is an organization dedicated to increasing the scale and effectiveness of impact investing through thought leadership and a network of impact investors. JPMC partnered with the GIIN since 2010 to publish leading research on the impact investment market.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

JPMAM has regularly acted as a public spokesperson for the initiative.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

JPMAM’s parent company JPMC was a lead author of the Green Bond Principles together with a group of peer banks, and currently serves on the Green Bond Principles Executive Committee. The Green Bond Principles are voluntary guidelines for the development and issuance of Green Bonds that encourage transparency and disclosure by making recommendations, principally for bond issuers, on the information that should be publicly disclosed regarding the use of proceeds, proceeds management, and associated reporting. JPMAM’s Global Fixed Income team pursue investment opportunities in thematic instruments including Green Bonds, and encourages bond issuers to follow the principles on disclosure.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Member and Paris Aligned Investment Initiative participant

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

JPMAM’s parent company JPMC is a member of the Ceres Company Network, which helps advance the firm's sustainability objectives. Ceres is a leading non-profit organization that works with a network of companies, investors, and public interest groups to accelerate and expand the adoption of sustainable business practices and build a healthy global economy. JPMAM utilizes the network to be kept updated on the progress made by our investor peers and companies.

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Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

          UK Corporate Governance Forum, Embankment Project for Inclusive Capitalism
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

          UNEP ESG Expert Panel Committee, REI100, Corporate Eco Forum, World Green Building Council, C2ESCouncil, Equator Principles
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

          Soft Commodities Compact, Business & Sustainable Development Commission, World Business Council for Sustainable Development
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

          European Fund and Asset Management Association Responsible Investment. We are also active in the Investment Association in the UK and are member of the board
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]


SG 09.2. Assets managed by PRI signatories (Private)


SG 10. Promoting RI independently

10.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

10.2. Indicate the actions your organisation has taken to promote responsible investment independently of collaborative initiatives. Provide a description of your role in contributing to the objectives of the selected action and the typical frequency of your participation/contribution.

Description

          J.P. Morgan Asset Management through our market leading insights programme and investment academy has provided access to educational resources both in-person and digitally for our clients.  These resources are tiered and available at different levels from financial advisers, consultants and asset owners (pension schemes / insurance firms / sovereign foundations).  

Our Real Estate Americas team has a robust tenant engagement program including education (sustainability guides) and various recycling or e-waste events, Asset Manager training and updates at an asset level., Property managers and partners have access to our consultant and receive education and support along with suggestions on opportunities for certification or retrofits. The team also provided a training for the client relation and portfolio managers in 2019.     

Our Infrastructure team is part of various GRESB working groups (example: airports, resilience) and a member of the team chairs the North American Benchmarking Committee for GRESB. The team is also a member of the Yale Initiative on Sustainable Finance Advisory Committee for academic research on ESG in finance. In addition, members from the Infrastructure team spoke at various ESG conferences and participated on panels to present on ESG implementation. The team also hosted several ESG Forums in different geographies (Amsterdam, Tokyo and London) and met with investors to discuss governance frameworks, climate risks and opportunities and the value of stakeholder engagement. This year’s Infrastructure Group’s Annual Meeting focused on ESG in Practice with guest speakers and panels about governance initiatives, stakeholder engagement, culture, D&I, energy efficiencies and climate solutions. 

In addition to this, recognising the importance of ongoing internal education to enable our sales force to conduct education or training to our clients,  we have rolled out an internal sustainable investment academy for investors, distribution staff and all connected staff over the last 12 months, covering basic concepts of the fundamental of ESG to specific asset class or product specific information.
        

Frequency of contribution

Description

          J.P. Morgan Asset Management has a number of commercial research relationships with academic institutions, including Oxford and MIT. In the last 12 months we have engaged with our partners collaborating in ESG research projects connected to both investment innovation and the assessment of methodology to assess ESG ratings and models.
        

Frequency of contribution

Description

          Our Infrastructure team participated on the PRI and Columbia University - Stress Testing for Physical Climate Risk Roundtable which was held in June 2019. The Infrastructure group’s research team also published a research paper that focused on energy transition.
        

Frequency of contribution

Description

          J.P. Morgan Asset Management made a public statement of our fundamental belief in the importance of ESG and a commitment to implementation of integrated ESG across all of our active investment strategies. We further supported the importance of transparency in publishing our investments stewardship paper in February 2020, highlighting the role of engagement, proxy voting and corporate governance.  

Through our published portfolio insights we regularly provide examples to clients and the market to evidence applications ESG and thinking around the part it plays in management of sustainable risk-adjusted portfolios. 

Real Estate: Our Real Estate team representative participates in all GRESB bench marking committee meetings. The Real Estate team also participates in Industry Working Groups and seminars.
        

Frequency of contribution

Description

          J.P. Morgan Asset Management hosts and participates in an extensive range of global and local events, including industry bodies and government policy events such as the World Economic Forum in Davos. We regularly speak specifically on sustainable investment and ESG, as well as it consistently being a topic of focus of our corporate platform discussions with clients, peers and industry bodies. 

Our Infrastructure team is a member of the Yale Initiative on Sustainable Finance Advisory Committee for academic research on ESG in finance.
        

Frequency of contribution

Description

          J.P. Morgan Asset Management made a public statement of our fundamental belief in the importance of ESG and a commitment to implementation of integrated ESG across all of our active investment strategies over time. We further supported the importance of transparency in publishing our investments stewardship paper in February 2020, highlighting the role of engagement, proxy voting and investment stewardship 

Infrastructure: Our Infrastructure team participated on the PRI and Columbia University - Stress Testing for Physical Climate Risk Roundtable which was held in June. The Infrastructure group’s research team also published a research paper that focused on energy transition.
        

Frequency of contribution

Description

          Through both our government relations and public policy team and the sustainable investment team J.P. Morgan Asset Management engages with NGO and industry body consultations globally, as well as through corporate engagement via JPMorgan Chase & Co. 

JPMorgan Chase (JPMC), the parent company of J.P. Morgan Asset Management, has also made efforts to promote responsible investment, including more consistent and useful disclosures on climate change. Matt Arnold, JPMC’s Global Head of ESG and Corporate Responsibility Engagement, serves as a member of the Financial Stability Board's industry-led Task Force on Climate-related Financial Disclosures (TCFD). The TCFD is working to promote and monitor adoption of the recommendations, address implementation challenges, and evaluate usefulness . JPMC released its first climate report that is aligned to TCFD recommendations in May 2019, which also covers the business activities related to JPMAM. JPMAM regularly contacts the Sustainable Finance team including Matt Arnold.   In addition, J.P. Morgan Asset Management is participating in an informal network of U.S. asset managers, who are convening periodically to discuss various approaches to implementing the recommendations.
        

Frequency of contribution

Description

          While J.P. Morgan Asset Management has not published any ESG articles, we have been quoted frequently in the media this year across the globe. These sources include Fundfire, MarketWatch, CityWireAsia, Yahoo Finance,  Bloomberg and IPE 

J.P. Morgan Asset Management and our corporate parent, JPMCregularly writes and published to the media on responsible investment and the importance of sustainability at all levels of the company, including how we apply ESG principles to the operation of our own business in “How we do business”, our application of ESG to specific investment strategies, or the commitment by JPMC to fund $200bn in support of the SDGs announced at our annual investor day media release.
        

Frequency of contribution

Description

          Our Infrastructure team collaborated on the UN PRI Supply Chain White Paper Public and the PRI Webinar ESG in Supply Chains Public 
We participated in the PRI Macroeconomic Risk Advisory Group
        

Frequency of contribution

Description

          JPMC as well as JPMAM actively supports a range of industry bodies as an active advisory partner in the area of RI, for example we were engaged with the CFA Institute on the formation of the syllabus for their new Sustainable Investment course.
        

Frequency of contribution

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]


SG 11. Dialogue with public policy makers or standard setters (Private)


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