AMERICAN FINANCIAL TECHNOLOGY AWARDS: Best Green IT Initiative: JPMorgan

Datacenters represent 20 percent of JPMorgan’s total energy bill and 80 percent of its carbon footprint, so it was a natural place to begin green investments. By implementing a global internal cloud for risk management, JPMorgan achieved a 50 percent reduction in the compute capacity required for derivatives risk computation. The 14-month project, which cost less than $1 million, allowed the bank to save $6 million in 2009 and reduce its carbon footprint by 4,500 tons of carbon dioxide per year