JPMorgan Chase to use NextEra Energy Resources' Optos software platform to optimize energy and sustainable operations

Rhea-AI Summary

NextEra Energy Resources announced that JPMorgan Chase will utilize its Optos software platform to optimize energy use and reduce carbon emissions. Optos employs AI and blockchain technology to assess and match energy demand with available clean resources. JPMorgan Chase aims to reduce its Scope 1 and 2 greenhouse gas emissions by 40% by 2030 and targets 70% renewable energy solutions by 2025. ClearTrace will assist in tracking energy transactions to help JPMorgan achieve its sustainability goals.

Positive

• JPMorgan Chase will use Optos to enhance its energy management and reduce its carbon footprint.
• JPMorgan has set ambitious targets to reduce emissions by 40% by 2030.
• The collaboration supports the global transition to clean energy.

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• None.

JUNO BEACH, Fla., Jan. 20, 2022 /PRNewswire/ -- Today, NextEra Energy Resources announced JPMorgan Chase has started to use its Optos software platform to help the global financial services firm optimize its energy use and reduce its carbon footprint.

Optos is an end-to-end energy management solution that uses artificial intelligence and blockchain technology to help companies identify their carbon footprint and provide real-time and forecasted data to match their energy demand with clean energy resources available on the market. It leverages data from an industry leading renewable fleet owned and operated by NextEra Energy Resources.

"We are excited to help JPMorgan Chase realize its substantial goals for both energy savings and decarbonization," said John Ketchum, president and CEO of NextEra Energy Resources, the world's largest generator of renewable energy from the wind and the sun. "With the Optos software platform, NextEra Energy Resources has found a way to capture its industry-leading renewable energy expertise and provide a data-driven, decision-making tool for our customers."

"We're committed to using state-of-the art technology, including artificial intelligence and blockchain technology, to better manage our energy usage across our global portfolio and match it real-time with clean energy resources," said Alec Saltikoff, Head of Sustainability and Energy for JPMorgan Chase's Global Real Estate Group.

JPMorgan Chase has set a number of targets to drive progress on operational sustainability, including a commitment to reduce its Scope 1 and Scope 2 greenhouse gas emissions by 40% by 2030. The firm continues to support the development of renewable energy, including installing on-site renewable energy systems and executing long-term renewable energy procurement agreements, and has set a goal that these solutions will make up 70% or more of its renewable energy procurement by 2025.

As part of its work with JPMorgan Chase, NextEra Analytics, a subsidiary of NextEra Energy Resources, will contract with ClearTrace, a leading energy-tracking and carbon accounting software company, to provide an ongoing record of each energy transaction, documenting JPMorgan Chase's progress toward achieving its sustainability goals.

JPMorgan Chase is committed to helping facilitate the transition to a low-carbon world. The firm strives to promote a sustainable and inclusive economy by setting carbon reduction targets for the Oil & Gas, Electric Power and Auto Manufacturing sectors, and targeting to finance and facilitate $2.5 trillion in sustainable development over ten years.

NextEra Energy Resources
NextEra Energy Resources, LLC (together with its affiliated entities, "NextEra Energy Resources") is a clean energy leader and is one of the largest wholesale generators of electric power in the U.S., with approximately 23,900 megawatts of total net generating capacity, primarily in 38 states and Canada as of year-end 2020. NextEra Energy Resources, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun based on 2020 megawatt hours produced on a net generation basis, and a world leader in battery storage. The business operates clean, emissions-free nuclear power generation facilities in New Hampshire and Wisconsin as part of the NextEra Energy nuclear fleet. NextEra Energy Resources, LLC is a subsidiary of Juno Beach, Florida-based NextEra Energy, Inc. (NYSE: NEE). For more information, visit www.NextEraEnergyResources.com.

JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorgan Chase had $3.8 trillion in assets and $286.4 billion in stockholders' equity as of June 30, 2021. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

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SOURCE NextEra Energy Resources

FAQ

What is the Optos software platform used by JPMorgan Chase?

Optos is an energy management solution developed by NextEra Energy Resources, utilizing AI and blockchain technology to optimize energy use and track carbon emissions.

What are JPMorgan Chase's sustainability targets?

JPMorgan Chase aims to reduce its Scope 1 and 2 greenhouse gas emissions by 40% by 2030 and to achieve 70% of its renewable energy procurement from sustainable sources by 2025.

How will ClearTrace assist JPMorgan Chase in its sustainability goals?

ClearTrace will provide ongoing tracking of energy transactions to document JPMorgan Chase's progress towards its sustainability targets.

What is NextEra Energy Resources' role in the partnership with JPMorgan Chase?

NextEra Energy Resources provides the Optos platform and leverages its renewable energy expertise to help JPMorgan Chase optimize its energy usage and sustainability efforts.

How does the collaboration impact NextEra Energy Resources' business model?

The partnership with JPMorgan Chase enhances NextEra's position as a leader in renewable energy solutions and increases demand for its innovative energy management technologies.