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JP Morgan creates a new role in green banking leadership

JP Morgan has strengthened its green finance advisory and offering in Europe by appointing a new division leader to support clients on renewable energy and green technologies.

An internal memo viewed by us on Thursday stated that the Wall Street lender promoted Kai-Christian Nerger into the newly created position of head of green economic banking for Europe in its global corporate banking division.

Nerger has worked at JP Morgan more than 10 year and will now lead a team that helps the bank's European customers reduce their carbon emission levels, as well as benefiting from the growth opportunities available in the green economy.

Nerger worked previously in the bank's teams covering diversified industries, power and renewables. The memo stated that he had been focusing on clients from the German industrial, utility, and green economy sectors. Some North American and European Banks have scaled back their climate ambitions, both before Donald Trump's election and after. JP Morgan, in early January, left a banking alliance that was aimed at advancing climate ambitions within the sector.

JP Morgan stated in the memo that they continue to help clients scale up energy transition and climate technology businesses around the globe.

JP Morgan has allocated $1 trillion to initiatives that support climate change and facilitated $242 Billion towards its green goal since 2021. (Reporting and editing by Virginia Furness)

(source: Reuters)