JP Morgan Chase's New York headquarters © DON EMMERT/AFP via Getty Images
JP Morgan Chase's New York headquarters © DON EMMERT/AFP via Getty Images

Why is JPMorgan Chase evaluating every supplier?

Will Green is news editor of Supply Management
15 March 2022

Banking giant JPMorgan Chase is going through a process of evaluating every supplier’s carbon emissions.

Nick Hamulak, head of supplier sustainability at JPMorgan Chase, said his team of four were in a “mobilise and measure” phase, which would lead to a “manage” phase further down the line.

Speaking during Eco Vadis’s Sustain 2022 event, Hamulak described how he had mobilised stakeholders with a talk in which he outlined the changes the world would see under incremental rising temperatures. “When I got to six degrees people were so terrified they wanted to know how they could help,” he said. “We have got volunteers to be part of the programme.”

Hamulak said his team was using a combination of publicly-available information and assessments to record the carbon emissions of suppliers. Once this was completed they will move onto the “manage” phase, which will involve partnering with suppliers and working with them to set goals and targets.

“We are hoping to impact whole industries as they work to improve and move towards these goals,” he said.

Hamulak said changes that had already taken place included the use of recycled ocean plastic in credit cards, putting solar panels in the car park of JPMorgan Chase’s massive office building in Columbus, Ohio, and exploring sugar cane to make paper instead of trees.

“When you look at the things we buy and the improvements we’re making on a product-by-product basis, that’s the most exciting thing,” he said. “Sitting down with suppliers, ‘How can we change the way we’re doing things?’ That’s the exciting thing.”

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