Key Impact Points:
- Strategic Hire: JPMorgan strengthens its climate advisory services by hiring Dr. Sarah Kapnick as Global Head of Climate Advisory.
- Expert Leadership: Kapnick brings expertise from her role as Chief Scientist at NOAA to assist clients in navigating climate impacts and decarbonization.
- Client Focus: The move addresses rising client demand for climate science capabilities amid major trends influencing capital formation.
JPMorgan Chase & Co. has bolstered its climate advisory services by appointing Dr. Sarah Kapnick, former Chief Scientist for the U.S. National Oceanic and Atmospheric Administration (NOAA), as the Global Head of Climate Advisory within its Commercial and Investment Bank.
Why it matters:
As companies worldwide grapple with the impacts of climate change and the transition to a low-carbon economy, JPMorgan’s clients require sophisticated guidance to navigate these challenges and opportunities.
Strategic Expertise
- Troy Rohrbaugh, Co-CEO of JPMorgan’s Commercial and Investment Bank, stated: “As our clients seek to realize the economic opportunities of the transition to a low-carbon economy, and build resilience to extreme weather and climate events, Dr. Kapnick’s expertise and perspective will be very valuable to designing their long-term business strategies.“
- Rama Variankaval, JPMorgan’s Global Head of Corporate Advisory, added: “Energy transition is a significant global commercial opportunity with the potential to generate economy-wide growth. Dr. Kapnick’s science-based insights and technical expertise will help our clients see around corners and advance their decarbonization strategies.“
Kapnick’s Role and Background
- In her new role, Dr. Kapnick will oversee JPMorgan’s climate advisory efforts, providing thought leadership and engaging with clients on climate and sustainability topics.
- She will report to Rama Variankaval and work closely with Chief Risk Officer Ashley Bacon.
- This marks Dr. Kapnick’s return to JPMorgan, where she previously served as a senior climate scientist and sustainability strategist in the Asset and Wealth Management group.
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Her Experience
- At NOAA, appointed by President Biden in 2022, Dr. Sarah Kapnick advanced the agency’s science and technology priorities, overseeing the National Weather Service and other critical functions.
- Prior to her initial tenure at JPMorgan, she was a Research Physical Scientist and Deputy Division Leader at NOAA’s Geophysical Fluid Dynamics Laboratory. Her research focused on seasonal climate prediction, extreme weather events, and the market impacts of climate change.
The Big Picture
- JPMorgan recognizes that decarbonization and the energy transition are major trends influencing capital formation.
- The firm’s clients are increasingly seeking dedicated climate science capabilities to support their strategic decisions in a rapidly evolving economic landscape.
By bringing Dr. Sarah Kapnick on board, JPMorgan aims to provide its clients with unparalleled expertise to navigate the complexities of climate change, seize new opportunities in the green economy, and drive sustainable growth.