JPMorgan Chase has rehired scientist Sarah Kapnick to provide climate advisory services to its corporate and investment banking clients. The move comes as the Wall Street firm expands its climate advisory offerings.
Kapnick returns to JPMorgan as the global head of climate advisory in the bank’s commercial and investment banking (CIB) division. In her new role, she will advise clients on climate, energy, biodiversity, and sustainability matters.
Her expertise will help clients “seize the economic opportunities of transitioning to a low-carbon economy and enhance resilience to extreme weather and climate risks,” said Troy Rohrbaugh, co-CEO of CIB, in a memo.
Kapnick initially joined JPMorgan in 2021 from the US Department of Commerce’s National Oceanic and Atmospheric Administration (NOAA) but left after a year when President Joe Biden appointed her as chief scientist for NOAA.
During her first tenure at JPMorgan, Kapnick served as a senior climate scientist and sustainability strategist for the bank’s asset and wealth management business.
Rama Variankaval, JPMorgan’s global head of corporate advisory, noted in the memo that the energy transition presents a substantial global commercial opportunity, with the potential to drive widespread economic growth.
“Decarbonisation and energy transition are major trends influencing capital formation,” the memo said.
Kapnick will report to Variankaval and collaborate closely with the firm’s chief risk officer, Ashley Bacon.
