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Contents
About the company: ........................................................................................................................ 3 JP Morgan Chase: CSR Programme ............................................................................................... 4 JPMC: CSR in the last 3 years ........................................................................................................ 5 CSR initiatives by JP Morgan Chase: ............................................................................................. 7 Awards and Recognitions: ............................................................................................................ 10 Conclusions:.................................................................................................................................. 11 Bibliography ................................................................................................................................. 13

About the company:

JP Morgan Chase is an American multinational bank that has its businesses in securities, banking and retail. JP Morgan Chase is one of the Big 4 banks of U.S.A where the other 3 banks are Bank of America, Citigroup and Wells Fargo. JP Morgan Chase recently became the largest bank of U.S.A in terms of assets (with assets of around 2 trillion). It overtook Bank of America to become the largest bank of U.S.A in October 2011. JP Morgan Chase was formed in 2000 when JP Morgan & Co merged with Chase Manhattan Corporation. The JP Morgan Brand is generally used for investment banking, asset management and other treasury services where as the Chase brand is used for credit card services in U.S.A and Canada. JP Morgan Chase has around 300,000 employees worldwide. Considering the size of this organization, it is definite that it has a very heavy investment on Corporate Social Responsibility (CSR). The CSR program of JPMC operates from NewYork which also happens to be the headquarters of the bank. The main focus areas being education, community and arts & culture. JPMC also funds around 40 nongovernmental organizations in the Asia pacific region. This number is continuously increasing and remains to show a positive trend over years.

JP Morgan Chase: CSR Programme

Mission:

JP Morgan Chase wants to be the best financial services company in the world and it believes that this target is achievable as the company has shown an excellent record in the past.

Objectives of CSR:

JP Morgan Chase that its duty is to go beyond its basic responsibility and solve the persistent problems like unemployment, environmental sustainability and access to quality education. Hence, JP Morgan Chase always believes in doing its part i.e. strengthening its communities and growing the economy.

Philosophy: JP Morgan Chase has got a set of core values and a brief statement defining all the core values. The behavior and principles of JPMC that stands for integrity and respect and deliver excellence and innovation. Integrity: Sticking to the highest ethical standards and trying very hard to do the right things at all times. Respect: Giving out equal importance to the perspective and ideas of everyone so that best ideas and insights can be selected. Excellence: Achieving high quality results with continuous improvement and fine execution. Innovation: Going beyond the normal style of working and thinking out of the box.
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JPMC: CSR in the last 3 years

If we go by the numbers the graph below shows the amount of donation JP Morgan Chase has made to its communities. in Years millions 2009 182.7 2010 190 2011 200

We see a rising trend in the amount invested. The donations to communities include donations to JP Morgan Chase foundation and community development financial institutions. Other than this, the research team of JP Morgan Chase tries hard on working on any new financial instruments which can work for the betterment and development of people. The bank is also inclined to support the ex-military servicemen as it recruits a fixed number of servicemen every year and the number gets revised (increased) every year. Salient features of the CSR in the last 3 years: If we see the amount of origination of mortgages that help families to take the advantage of low interest rate over the last 3 years we can see a clear rise in the amount except of the turbulent economic conditions in U.S.A. If we go through the number and amount of auto loans that the bank has financed, we see a clear rise in the number as well as the amount. This initiative shifts the status of a normal citizen upwards.

The credit card purchases financed by JP Morgan Chase have increased over the years with lots of new innovations in the period from which the customers can benefit from.

The amount of student loans has steadily increased providing help and support to the students.

There are many unemployed people (specially veterans and ex military servicemen) who have got shelter and job with the help of initiatives by the company. We hope that this trend continues in the coming years.

JP Morgan Chase, in the past 3 years has come up with a multiple of new financial instruments that works towards the betterment of its customers and communities.

It is expected that, in the forthcoming years JP Morgan Chase, apart from increasing the budget on corporate social responsibility also increases the no of continents and countries it is serving.

If we consider the economic condition of U.S.A in the past 3 years, the country witnessed a recession in 2008 and was busy recovering from it in 2009. The country was also under huge debts in 2010 and 2011 (raising of debt ceiling and austerity measures). This condition directly impacts the financial performance of a firm like JP Morgan Chase. Poor financial performance leads to fewer funds available for activities other than the normal revenue generating ones. Considering all these factors into account, JP Morgan Chase has done a fabulous job by investing such a huge amount of money. In the coming sections we well have a look at the awards and recognitions that the company has received in return of serving the world in such a decent way.

CSR initiatives by JP Morgan Chase:

ChaseMilitary.com: ChaseMilitary.com is an initiative by JPMC to help ex-military servicemen. Tim Mcgraw partners with JPMC to award 25 homes to veterans every year. JPMC organizes hiring events for Military members, veterans and military spouses every year. It also fixes the number of employees that it will recruit from this category. It generally revises the numbers with each passing year. JPMC employees also organize events like freedom run to honor the military people. JPMC provides free job training to veterans.

The Global Cities Initiative: JPMC gave $10 million to the Brookings Institution to underwrite the Global Cities Initiative: A Joint Project of Brookings and JPMC was made for helping the business leaders identify and leverage their citys economic resources. Through this amount, the Global Cities Initiative will provide leaders from the 100 largest U.S. metropolitan areas with in-depth research, analysis and guidance on their economic resources and how they can use these resources to the economic development of their respective cities. This initiative provides a plan of action that lays out the role of metro area in changing the economy. Over the next five years, the Global Cities Initiative will annually bring together the business leaders of three main regions of U.S.A to invite fruitful discussions on regional growth.

Community Development Initiative: Our mission is to strengthen the business communities of JPMC.by expanding access to capital, leadership by example and leveraging the many resources of JPMC. This mission serves low income families, people who carry out small businesses and low to moderate income communities. The do the help that is needed throught services such as credit, banking , mortgages, technical assistance and Advisory services to community groups and nonprofit institutions who are working for the benefit of these communities. Global Philanthropy Initiative: JPMCs philanthropic goal is simple to act as a catalyst for meaningful, positive and sustainable change within our communities and neighborhoods that need it the most. In 2010, JPMC and its Foundation funded $150 million through grants and sponsorships to thousands of not-for-profit organizations across 28 the world. Any employee showing interest in this type of programs is rewarded with suitable gifts. JPMC supports community development that includes money management basic, economic planning, job training small business assistance etc. It also guides the communities for affordable housing development and preservation. JPMC invesst in programs and services that tries to provide economically disadvantaged children's high-quality educational opportunities. The focus is making under previliged children educated up to a certain level so that they can contribute in the economic development.

Communities thrive when rich, cultural resources are readily available and accessible to residents. In our Arts and Culture grantmaking, JPMC looks for opportunities to merge the education opportunities of children with arts and try positioning the arts organizations and artists as key drivers for the economic renewal of communities

Social Finance Initiative: J.P. Morgan Social Finance was launched in 2007 to cater to the growing market for impact investments. Impact investments mean those investments that generate a decent financial return along with a positive impact. Innovative business models can certainly help limited public sector and philanthropic resources by providing market-based solutions to low-income and excluded communities in a sustainable way. JPMC plans to achieve this through principal investments, thought leaderships and client advisory. Environment Sustainability Initiative: JPMC is using its knowledge and capital to help the clients, customers and the communities served by it. It invests in various environmental sustainability programmes and help individuals in attaining sustainability. It does so by driving sustainability through its business and sustainability in its operations. JPMorgan Chase employs its financial resources in many ways to support clients, customers and communities towards a certain cause. It helps communities to expand the use of renewable energy, helps them to improve the energy efficiency. It also uses mechanisms to reduce the green house emissions thus improving air quality and protecting the climate.

Awards and Recognitions:

Most respected Companies by Barrons(2011) The Worlds Most attractive employer amongst all the financial services firms and No. 8 overall by Universum (2011) Working Mother 100 best Companies and best Companies for Multicultural Women by the Working Mother magazine(2011) Top 100 Military Friendly employers by G.I. Jobs magazine(2012) Top 50 Companies for Multicultural business opportunities by DiversityBusiness.com (2012) 50 out Front Companies for Diversity leadership by Diversity MBA magazine (2011)

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Conclusions:
JP Morgan Chase is contributing significantly on the corporate social responsibility front. This type of a contribution is expected from a firm like JP Morgan Chase. The corporate social responsibility of the company profits people, communities and environment. It also helps the economic development of the city where it operates in. Other than contributing with the corporate social responsibilities initiatives in U.S.A (parent country of the firm) the firm also contributes in the under developed and developing economies. The firm contributes in the Asia Pacific region, China, Africa and many other countries which need the initiatives more than the U.S.A. If we remove the environmental, economic development of the city and many other initiatives by the company then also a financial services firm like JP Morgan Chase has a lot to mention about corporate social responsibilities. The firms that are operating in the loan market can easily state the loan amount per annum, show an increase in the amount and state that they are doing this for the society. However, if its a normal financial instrument, it cannot be considered as a part of corporate social responsibilities. Hence, if we are analyzing the CSR initiatives by a financial services firm like JP Morgan Chase, we have to keep in mind about differentiating the various CSR initiatives. JP Morgan Chase spends millions of dollars every year giving it to the foundation for the upliftment of communities. However, if we see the economic condition of the world in the past few years, the world has faced a recession in 2008 which affected the business of a financial services firm like JP Morgan Chase a lot. Hence, it is not easy for any firm to increase the CSR amount every year but JP Morgan Chase has successfully done it.

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According to recent news, JP Morgan Chase has lost 2 billion dollars due to some trading error. It will be very interesting to see whether this loss has any effect on the amount for CSR responsibility or not. This will be disclosed in the 2012 corporate responsibility report.

As the economic condition of U.S.A worsens further with all the austerity measures taken by the government and increase in the debt ceiling, it is highly likely that the country will witness a slow down. JPMC and new innovative corporate social responsibilities will again play an important role. For starting afresh JPMC can help reducing the unemployment with its horizontal expansion. It can engage fresh graduates into a training programme.

The major chunk of the CSR initiatives taken by JPMC is limited to U.S.A. JP Morgan Chase is a brand which is familiar to all the nations in the world. It is highly advisable that JP Morgan Chase should go global in terms of the corporate social responsibility initiatives. It has been observed that all the initiatives were generated from the U.S.A. and then transferred to other nations. There are nations(in the Eurozone specially) who need more funding and attention due to the financial turmoil they are facing. JP Morgan Chase is very well present in most of the countries of Eurozone. Hence, to increase its popularity globally, it is highly recommendable that the company should take some new initiatives outside the American region.

The world economy is in the need of a number of new financial instruments that can help to redeem it. JP Morgan Chase is being labeled as a very innovative firm. It has a robust Research and Development team constantly working on preparing and implementing new financial instruments that can make the job easier for the customers and the company.

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Bibliography
Corporate responsibilty report of JP Morgan Chase of the year 2011, 2010 and 2009. http://www.jpmorganchase.com/corporate/Corporate-Responsibility/corporateresponsibility.htm. (n.d.). Retrieved from JP Morgan Chase. Jamie Snider, R. P. (n.d.). Corporate Social Responsibility in the 21st Century: A View from the Worlds Most Successful Firms.

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