Ambitions
- The company’s cumulative $445 billion (2007─2030) Environmental Business Initiative demonstrates its commitment to the environment and support of sustainable, low-carbon businesses through lending, investing, capital raising, advisory services, and financing solutions for clients around the world.
- In 2019, Bank of America achieved carbon neutrality for Scope 1 & 2 emissions. In its operations, the company has committed to the following by the end of 2020:
Investments
- Bank of America has financed more than $158 billion in low carbon, sustainable businesses since 2007 as part of its broader Environmental Business Initiative.
- Bank of America’s Blended Finance Catalyst Pool provides $60 million in capital—and the opportunity to stimulate additional private capital—to finance and help advance the United Nation Sustainable Development Goals in emerging and developing markets. The initiative focuses on affordable and clean energy (SDG7), sustainable cities and communities (SDG11), clean water and sanitation (SDG6), and climate action (SDG13). It aims to support economic growth and result in more sustainable jobs, development, and projects as well as stimulate innovation.
- The company has been the top tax equity investor in the U.S. since 2015. Bank of America’s portfolio at the end of 2019 holds approximately $9.4 billion of renewable energy tax equity projects supporting wind and solar facilities.
Innovations
- Bank of America has led the industry in corporate green bond issuance ($6.35 billion since 2013) to fund energy efficiency and renewable energies globally, while working extensively with financial institutions to establish the Green Bond Principles.
For more information, visit www.bankofamerica.com/environment
