2021 Environmental Social & Governance Report

EVOLUTION OF OUR SUSTAINABLE DEVELOPMENT TARGET
The Target builds on our history of fulfilled commitments to support climate action and sustainability. 
2017 
Facilitate $200 billion in clean financing by 2025
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2020 
Finance and facilitate $200 billion for climate action and sustainable development in 2020
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2021
Finance and facilitate more than $2.5 trillion for climate action and sustainable development over 10 years, by the end of 2030
FEATURE
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Achieved in 2020.
2
Achieved in 2020, by financing over $220 billion in transactions, including more than $55 billion toward green initiatives.
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INTRODUCTION
Message from Our Chairman & CEO
Company at a Glance
Our Approach to ESG
Feature: Our $2.5 Trillion 
Sustainable Development Target
ENVIRONMENTAL
SOCIAL
GOVERNANCE
ESG REPORT APPENDICES

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How We Developed the Target
In setting the Target, we took into account the Firm’s breadth, scope and geographic reach, 
spanning the globe and encompassing activities across both our retail and wholesale business 
segments. We prioritized areas that are important to global sustainability and inclusive growth and 
where we believe our capabilities and expertise can help drive progress. We also concentrated on 
topics that are important to our stakeholders, including customers and clients, employees, 
communities and shareholders. This led to the Target’s three areas of focus, each of which combines 
a clear need and business opportunity that we believe our Firm is well positioned to address. 
In the development of the Target's criteria and methodology, we also took into account international 
best practices and industry standards, such as the SDGs, the International Capital Market 
Association’s Green and Social Bond Principles and the International Finance Corporation’s 
Anticipated Impact Measurement and Monitoring framework.
How We Are Driving Progress 
We are mobilizing resources and expertise throughout the Firm to drive progress toward our goals. 
This includes deploying both new and existing teams to enhance our capabilities and realize 
opportunities across our wholesale and consumer business segments, as well as across other 
corporate functions. For example, CCB’s Community and Affordable Home Lending business is 
helping expand our support for sustainable homeownership, and our growing network of 
Community Center branches is advancing a new model for how we support diverse entrepreneurs 
and their communities. Elsewhere, we are investing in resources such as CB’s Green Economy and 
Community Development Banking teams, CIB’s ESG Solutions team and Center for Carbon Transition 
("CCT"), and the JPM DFI, each of which play a key role in collaborating with our global network of 
bankers and product specialists to deliver strategic services and facilitate financing at scale. 
For the Target, we have established a robust governance process designed to provide accountability 
for how we quantify and track our progress over time. This includes a cross-line-of-business and 
functional group responsible for approving the quantification approach, documentation and 
reporting associated with transactions that contribute toward the Target. Together, these actions 
support strategic decision-making within and across our businesses as we work to drive continued 
progress through 2030. 
Progress to Date
In 2021, our Firm financed and facilitated approximately $285 billion towards the Target. Across our three objectives, 41% went towards 
development finance, 37% towards green, and 22% towards community development. In this section we discuss our progress in each 
objective through December 31, 2021.
To learn more about our criteria for determining what business activity is eligible to count toward our Sustainable Development Target and 
how we account for the value of transactions, see Our Approach to Our Sustainable Development Target.
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Our approach to measuring our progress for the Target builds off the criteria and methodology we developed for our $200 billion commitment in 2020. For the Target, we made methodological adjustments from the 2020 commitment in two main areas: 1) Development Finance, driven by refinements in the JPM DFI’s methodology as explained 
in 
its latest annual report
; and 2) Community Development, with the inclusion of small business and housing-related loans and investments for Black, Hispanic and Latino individuals and communities, largely consistent with our Racial Equity Commitment.
TOTAL
$285B
11%
$2.5T
TARGET
2021
2030
TOTAL
$285B
Green
$106B
37%
37%
Community Development
$61B
22%
Development Finance
$117B
41%
Corporate & Investment Bank | Investment Banking
$133B
47%
Including capital raising in debt and equity markets; underwriting of 
sustainable bonds (i.e., green, social and sustainability bonds); municipal 
and not-for-profit bonds; initial public offerings (IPOs); follow-on offerings 
(FPOs); private placements and advisory services, including mergers and 
acquisitions (M&A)
Corporate & Investment Bank | Markets
$101B
36%
Including certain emission contracts and investments in tax credit vehicles 
in alternative energy (e.g., solar and wind projects)
Consumer & Community Banking
$35B
12%
Including support for small businesses, home ownership and consumer 
adoption of electric vehicles
Commercial Banking
$15B
5%
Including affordable housing, retrofitting, rehabilitating or constructing 
accredited energy-efficient buildings (e.g., LEED, Energy Star)