JPMorgan Chase, Micro Focus, and Majid Al Futtaim Join the Low Carbon Patent Pledge to Accelerate Climate Solutions
October 7, 2021
WASHINGTON, District of Columbia --
The Low Carbon Patent Pledge announced today that JPMorgan Chase, Micro Focus, and Majid Al Futtaim are helping combat climate change by making key patents freely available to anyone using low carbon technologies. That brings the total number of companies who have joined the Pledge to 6. The Pledge was launched on Earth Day 2021 by Hewlett Packard Enterprise (HPE), Microsoft, and Facebook with the mission of promoting low carbon technologies and fostering collaborative innovation.
The new signatories are adding patents to the Pledge, contributing new solutions that will accelerate our transition to low carbon energy sources. These companies span different industries, bringing new solutions and perspectives to help tackle the complexity of climate change. Over time, the coalition aims to add more companies, organizations, and governments around the world.
“Technological innovation will be key for the world to reach the goals of the Paris Agreement,” said Daryl Wooldridge, Managing Director and Head of Intellectual Property, JPMorgan Chase. “At JPMorgan Chase, we are committed to doing our part in advancing the transition to a low carbon economy. Making critical technology available to innovators who are developing solutions that address climate change is critical to that effort.”
“This Pledge is an important tool in achieving the cross-industry cooperation that is essential to achieving dramatic gains in adopting low carbon resources, “says Sarah Atkinson, Micro Focus’ Director of Environmental, Social & Governance. “We are excited to join the Pledge as a way to scale the impact of our product offerings that enable reduced energy consumption in data centers and IT environments.”
Ibrahim Al Zubi, Chief Sustainability Officer at Majid Al Futtaim commented: “We realize that technology, innovation and collaboration are critical pillars in the world’s fight against climate change. At Majid Al Futtaim, we rely heavily on innovation in our journey to be Net Positive in carbon and water by 2040. We believe the onus is on large corporations to incubate, nurture and grow innovators especially within our communities. We are proud to be part of the initiative and look forward to further contribute to the global efforts against climate change.”
The new signatories will help accelerate the adoption of low carbon technologies and inspire a new wave of innovations to combat climate change. For example, JPMorgan Chase has pledged patents that help cool and ventilate data centers and increase HVAC system efficiency. The patents pledged by enterprise software company Micro Focus include technologies that improve the management of wind turbines and methods for more efficiently distributing power.
The Pledge comes amid warnings from the global scientific community that breakthrough technologies will be vital to cutting emissions fast enough to avert climate disaster. Roughly half the reductions needed to achieve net-zero emissions by 2050 require technologies that are not yet commercially available, according to the International Energy Agency. The World Economic Forum is supporting the Pledge as it demonstrates the role of technology and innovation in pursuit of sustainability and net zero goals.
More than 400 patents have been pledged so far. The list of patents and other details are available at lowcarbonpatentpledge.org. The Pledge is designed to grow as companies add more patents and more companies from different industries make the Pledge. The Low Carbon Patent Pledge is hosted by the Program on Information Justice and Intellectual Property at American University Washington College of Law.
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