JPMorgan executive explains why decarbonization is a megatrend that business can't ignore

and at the end of 2020, he transitioned from the bank's corporate finance advisory arm to lead the bank's strategy on decarbonization, which refers to reducing or eliminating carbon dioxide emissions from a system or process.

"It doesn't matter whether you're an energy client, or a consumer products client, or a retail client, there is something about this megatrend that is going to impact your business model, your business," Variankaval told CNBC.to advance climate and sustainable development goals.

President Joe Biden signs The Inflation Reduction Act with Sen. Joe Manchin, D-WV; Senate Majority Leader Chuck Schumer, D-NY; House Majority Whip James Clyburn, D-SC; Rep. Frank Pallone, D-NJ; and Rep. Kathy Catsor, D-FL, at the White House on Aug. 16, 2022.landmark climate bill, the Inflation Reduction Act

Also, there's about $50 billion a year going into climate tech companies via private funding and venture capital funding pathways, says Variankaval. But now, the resiliency of a company's supply chain is being given as much priority as efficiency. And sustainability is a keystone of resiliency.

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