JPMorgan Chase has partnered with the Natural Resource Defense Council (NRDC), the grant recipient, to assist China in achieving increased levels of energy efficiency to address its energy challenges and minimize the adverse environmental impact. China has the potential to meet its energy needs and achieve huge reductions in pollution by increasing its investment in efficiency technologies. JPMorgan Chase and the NRDC are helping China meet this challenge through the NRDC's broad market transformation plan.
JPMorgan Chase is committed to building vibrant communities, preserving our environment and promoting an inclusive culture that benefits our shareholders, customers, employees, neighbors and future generations. The CGI's efforts to catalyze 'Commitments to Action,' with outcomes measurable beyond monetary terms, provides a compatible partnership for JPMorgan Chase's initiatives and serves as a valuable forum to pursue real solutions.
China's already booming energy demands will continue to grow as the nation continues to sharply increase economic output over the coming years and decades. China is straining to keep energy supply growing with demand and, due to the methods through which energy is both created and used, the impact of this generation and use has resulted in high levels of pollution and greenhouse gases. The project will help China achieve increased energy efficiency and dramatic reductions in pollution and greenhouse gas emissions that will have a positive impact in China and around the world.
In order to address China's need to increase its energy efficiency and minimize the negative impact on the environment, the NRDC program uses an integrated market transformation strategy that combines mandatory 'push' regulations with market 'pull' approaches. This plan will focus on developing mandatory codes for energy-efficient buildings, establishing voluntary standards for energy efficiency beyond minimum standards, and promoting demand-side management. The project is being implemented by collaborating with provincial, municipal, and central governments, as well as various private and civil sector actors.