JP Morgan has strengthened its green finance operations in Europe by appointing a new regional head to support clients engaged in renewable energy and green technology.
Kai-Christian Nerger has been promoted to the newly created role of Head of Green Economy Banking for Europe within the bank’s global corporate banking division, according to an internal memo. Nerger, a JP Morgan veteran of more than a decade, will lead efforts to help European clients reduce carbon emissions and capitalise on opportunities in the green economy.
Prior to this appointment, Nerger held positions in the bank’s diversified industries and power and renewables teams, and more recently focused on clients in Germany across the industrial, utility, and green economy sectors.
The move comes amid a broader retrenchment in climate commitments by several major banks in North America and Europe, including JP Morgan, which exited a climate banking alliance earlier this year. Despite this, the memo affirmed the bank’s continued support for clients scaling energy transition and climate technology ventures globally.
JP Morgan has pledged $1 trillion towards climate-related initiatives and has already facilitated $242 billion in green finance since 2021.
