JPMorgan Appoints NOAA Chief Scientist Sarah Kapnick as Global Head of Climate Advisory
J.P. Morgan announced today that it has hired former National Oceanic and Atmospheric Administration (NOAA) Chief Scientist Dr. Sarah Kapnick as Global Head of Climate Advisory within the firm’s Commercial and Investment Bank.
According to an internal memo seen by ESG Today, the appointment comes as J.P. Morgan views decarbonization and energy transition as major trends influencing capital formation, with the firm looking to strengthen the climate advisory expertise it offers to clients. Dr. Kapnick’s new role will including overseeing J.P. Morgan’s thought leadership strategy and engaging with clients on climate and sustainability topics, the memo said.
Troy Rohrbaugh, Co-CEO, J.P. Morgan Commercial & Investment Bank, said:
“We support clients with solutions they need to scale and grow – from emerging startups to multinational corporations – and continue to see rising client demand for dedicated climate science capabilities and related advisory solutions. 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.”
The appointment marks a return for Dr. Kapnick to J.P. Morgan, who previously served as senior climate scientist and sustainability strategist for the firm’s Asset and Wealth Management business before being appointed by President Biden as NOAA Chief Scientist in 2022, with responsibility for advancing policy and program direction for NOAA’s science and technology priorities. Prior to initially joining J.P. Morgan, Dr. Kapnick served at NOAA’s Geophysical Fluid Dynamics Laboratory (GFDL) as Deputy Division Leader & Research Physical Scientist, with work including research on seasonal climate prediction, mountain snowpack, extreme storms, water security and climate impacts, and the market impacts of climate change.
Rama Variankaval, J.P. Morgan Global head of Corporate Advisory, said:
“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. As a global leader in green financing as well as supporting high-intensity sectors’ transition to a lower carbon business model, J.P. Morgan is well-positioned to serve clients and drive shareholder value.”