JPMorgan Chase Rehires Sarah Kapnick for Climate Advisory

(Reuters) – JPMorgan Chase (NYSE:JPM) has rehired scientist Sarah Kapnick to advise its corporate and investment banking clients, as stated in an internal memo seen by Reuters on Monday. This move is part of the bank's efforts to enhance its climate advisory offerings.

Kapnick rejoins JPMorgan as the Global Head of Climate Advisory within the firm's Commercial and Investment Bank (CIB) unit. In her role, she will advise clients on topics related to climate, energy, biodiversity, and sustainability.

Her expertise aims to assist clients in "realizing the economic opportunities of the transition to a low carbon economy, and building resilience to extreme weather and climate events," as noted by Troy Rohrbaugh, co-CEO of CIB, in the memo.

Originally, Kapnick joined JPMorgan in 2021 from the U.S. Department of Commerce, National Oceanic and Atmospheric Administration (NOAA), leaving after a year when President Joe Biden appointed her as chief scientist for the government organization.

During her first tenure with the bank, she served as the Senior Climate Scientist and Sustainability Strategist for its asset and wealth management business.

Rama Variankaval, JPMorgan's Global Head of Corporate Advisory, highlighted in the memo that the energy transition presents a significant global commercial opportunity with the potential to foster economy-wide growth.

"Decarbonization and energy transition are major trends influencing capital formation," the memo stated.

Kapnick will report to Variankaval and work closely with the firm's Chief Risk Officer, Ashley Bacon.