JPMorgan Chase: Without wind and solar energy, the United States will not be able to achieve its energy goals

JP Morgan believes that the power supply needed for growth in the U.S. technology sector will be difficult to meet unless renewable energy sources such as wind and solar power are fully utilized. This view sharply contrasts with the energy policies of the Trump administration.

Chuka Umunna, head of global sustainable solutions at JP Morgan, stated in a media interview on Tuesday, "It's hard to imagine a scenario where the U.S. doesn't need to utilize these energy sources." This statement was released ahead of the BNEF summit in London.

Recently, Trump referred to renewable energy as a "joke" during a speech at the United Nations, describing wind turbines as "pathetic" and calling the concept of climate change "the greatest hoax in the world." In contrast, the White House is seeking to increase fossil fuel production and has listed nuclear and geothermal energy as preferred low-carbon energy sources.

Umunna believes that the most important issue for the U.S. right now is "how to achieve self-sufficiency." JP Morgan announced a $1.5 trillion "Safety and Resilience Initiative" on Monday, which aims to provide funding to revitalize the U.S. industrial base over the next decade, focusing on four core areas: supply chains and advanced manufacturing, defense and aerospace, energy independence, and cutting-edge technology.

Nuclear Energy Development Time Constraints Energy Transition Process

Umunna pointed out:

The main issue facing nuclear energy is that "it takes years to become operational," which makes "renewable energy an important part of the solution."

This time lag has become a key consideration in U.S. energy planning, especially against the backdrop of rapidly growing electricity demand from the technology sector.

Driven by energy security concerns, renewable energy stocks have rebounded this year. Umunna stated, "The nature of the discussion has really changed."

He emphasized that the focus now is not just on climate and environmental issues, but on "how to achieve self-sufficiency." This shift in perspective is reshaping investors' valuation logic for the renewable energy sector.

JP Morgan considers energy independence as a significant factor in its $1.5 trillion investment plan. Umunna stated, "Sustainability is intertwined with competitiveness and geopolitical issues."

He believes that the debate surrounding sustainability is changing, "no longer a binary debate." This reflects how financial institutions are increasingly considering national security, economic competitiveness, and environmental sustainability in their investment strategies.

The four core areas of the initiative encompass key industries for the U.S. economy and national security, including semiconductors, critical minerals, and clean energy, highlighting the financial industry's heightened attention to geopolitical risks and supply chain security