2021 Environmental Social & Governance Report

AFFORDABLE RENTAL HOUSING
The Firm works to advance affordable housing solutions, bringing our industry 
expertise, a comprehensive set of financial tools and a strategy of combining our 
business and philanthropic efforts to create greater impact. As part our Racial Equity 
Commitment announced in October 2020, we pledged to expand on these efforts by 
financing the creation and preservation of 100,000 affordable rental units over five 
years through $14 billion in new loans, equity investments and other efforts.
To help drive progress toward this goal, we created the Affordable Housing 
Preservation Program, which incentivizes landlords to keep rental units in their 
buildings at an affordable level. Thanks to these and other efforts, between October 
2020 and December 2021, our Firm approved funding for approximately $13 billion 
in loans to help preserve more than 100,000 affordable housing and rental housing 
units across the U.S., and increased our Low-Income Housing Tax Credit investments 
by $400 million. 
HOMEOWNERSHIP
Owning a home is critical to building wealth and ensuring financial stability over 
time. Yet, at the end of 2021, the homeownership gap between Black and White 
households was 31 percentage points – and was 26 percentage points between 
Hispanic and White households.
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To help address this gap, our Firm is expanding access to affordable homeownership 
through our home lending products and services, as well as through innovative 
homebuyer readiness programs and financial education services. As part of our 
Racial Equity Commitment (see page 21), we committed to originate an incremental 
40,000 home purchase loans, or $8 billion in mortgages, for Black, Hispanic and 
Latino families over five years. We also committed to refinance an additional 20,000 
mortgages, up to $4 billion in loans, to reduce mortgage payments for Black, 
Hispanic and Latino homeowners.
To build the foundation to increase homeownership, we established a Community 
and Affordable Home Lending business. As part of this, we expanded our traditional 
home lending advisor network to include a new role called “Community Home 
Lending Advisor,” which is designed to be located in minority and low- to moderate-
income communities. These individuals are experts in local housing and down 
payment assistance programs. By the end of 2021, we had hired more than 150 
Community Home Lending Advisors nationwide. 
We also continue to enhance our home lending products to be more accessible to 
customers across the full economic spectrum. For example, to address two of the 
biggest barriers to homeownership, we expanded our Homebuyer Grant program to 
$5,000 to help more customers with closing costs and down payment assistance 
when buying a home in more than 6,700 majority minority communities nationwide. 
Home Lending continues to make progress in its lending commitments to Black, 
Hispanic and Latino communities:
• 
During 2021, helped homeowners by refinancing 19,000 of the 20,000 incre-
mental loans, nearly $5 billion. 
• 
Originated nearly 12,000 home purchase loans for Black, Hispanic and Latino 
households in 2021, totaling more than $4 billion. While the number of units 
was slightly below 2019 production volume, the Firm continues to pace towards 
originating an incremental 40,000 by 2025. 
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Source: 
https://www.jchs.harvard.edu/sites/default/files/reports/files/Harvard_JCHS_The_State_of_the_Nations_Housing_2020_Report_Revised_120720.pdf
31
Source: 
https://www.census.gov/housing/hvs/files/currenthvspress.pdf
 
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INTRODUCTION
ENVIRONMENTAL
SOCIAL
Feature: Our Commitment
to Racial Equity
Diversity, Equity & Inclusion
Human Capital
Inclusive Growth
GOVERNANCE
ESG REPORT APPENDICES

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$1 Billion Inaugural Social Bond Issuance 
In 2021, JPMorgan Chase issued its $1 billion inaugural social bond and 
allocated an amount equal to the net proceeds of that issuance to finance or 
refinance the creation, rehabilitation or preservation of 223 affordable housing 
projects across the United States. The affordable housing projects span 36 
states and represent 22,911 affordable housing units. 
This inaugural social bond issuance builds on our Firm’s leadership in the 
sustainable bond market as well as our engagement with diverse suppliers, with 
the co-managers for the bond offering consisting solely of Minority and Women-
Owned Business Enterprise and Service-Disabled Veteran-Owned Business firms. 
More information on the use of proceeds and expected impact metrics can be 
found in our 
Social Bond Annual Report
.