2021 Environmental Social & Governance Report
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jpmc-esg-report-2021
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- SUPPORT FOR SMALL BUSINESS
SUPPLIER DIVERSITY
JPMorgan Chase supports the development and utilization of qualified diverse businesses from historically underrepresented groups including companies owned and operated by minorities, women, military veterans, disabled veterans, service- disabled veterans, people with disabilities and members of the LGBT+ community. We have been committed to diverse entrepreneurs for decades. In 2020, as part of the Firm's $30 billion Racial Equity Commitment, we deepened our dedication to supplier diversity by pledging to spend an additional $750 million in Tier 1 spend with Black, Hispanic and Latino suppliers over five years. SUPPORT FOR SMALL BUSINESS Our Firm is proud to serve small business. During 2021, JPMorgan Chase provided $22 billion of credit to small businesses. As part of our Racial Equity Commitment in 2020, we pledged to provide an additional 15,000 or $2 billion in loans to small businesses in majority Black, Hispanic and Latino communities over the next five years. In 2021, we began building the infrastructure and foundation to deliver our goal. We expanded a national program to help support minority entrepreneurs in historically underserved neighborhoods. Launched in late 2020, the initiative matches business owners – regardless of whether they are Chase customers – with a Chase senior business consultant who provides one-on-one coaching. By the end of 2021, we have hired 25 diverse senior business consultants to support this effort. Collectively, they mentored more than 1,000 Black, Hispanic and Latino small businesses and hosted educational events, community workshops and business training seminars with over 28,000 participants across 14 U.S. cities. Over the past two years, our Firm also deployed substantial small business lending through pandemic-related government relief programs, including the PPP. While PPP loans are not part of the Firm’s Racial Equity Commitment, JPMorgan Chase was the #1 PPP lender on a dollar basis — over the life of the program, we funded more than 400,000 loans for more than $40 billion. Fueling Business Growth and Entrepreneurship 40 INTRODUCTION ENVIRONMENTAL SOCIAL Feature: Our Commitment to Racial Equity Diversity, Equity & Inclusion Human Capital Inclusive Growth GOVERNANCE ESG REPORT APPENDICES |
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