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Environment

7/7/17 4:00 am EDT

Euromoney magazine this week named Bank of America the World’s Best Bank in two key areas: Corporate Social Responsibility (CSR) and Advisory.

Best Bank for CSR: This award goes to the firm that demonstrates excellence in its initiatives, achievements and milestones, and how it has helped clients improve their CSR credentials. Charitable and philanthropic ventures are important, but Euromoney focused its deliberations on those that provide financial or market solutions. more...

6/6/17 9:00 am EDT

Bank of America announced today progress that was made in 2016 to fulfill its commitments across environmental, social and governance (ESG) factors as part of the company’s focus to deliver responsible growth.

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12/7/16 12:00 pm EST

The Nature Conservancy (TNC) is the recipient of a $1 million grant from the Bank of America Charitable Foundation, which will support two critical TNC initiatives. The first initiative focuses on using the comprehensive system-scale planning approach to help countries balance the generation of renewable energy and the conservation of rivers that provide food, livelihoods and many other values to people – particularly in Asia, Africa and Latin America.

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11/10/16 10:00 am EST

Bank of America Corporation announced today the issuance of its third and largest green bond for $1 billion in aggregate principal amount, furthering the company’s commitment to advancing renewable energy generation.

“Green bonds are a key way we bring the private sector together to fund clean energy,” said Bank of America Vice Chairman Anne Finucane. “Through these types of innovative financial solutions, we are helping our clients create jobs and advance alternative energy sources while also more...

9/19/16 6:00 am EDT

Bank of America announces new environmental operations goals to be met by 2020, including plans to go carbon neutral. This announcement supports the bank’s continued efforts to reduce the environmental impacts of its operations. Bank of America will work to reduce location-based greenhouse gas (GHG) emissions by 50 percent, energy use by 40 percent, and water use by 45 percent in its operations across the globe by 2020.

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6/9/16 9:00 am EDT

To further expand how Bank of America is creating long-term value across Environmental, Social and Governance (ESG) factors, today the company shares progress made to deliver on its purpose of helping make financial lives better for customers, clients and communities around the world.

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4/6/16 12:01 am EDT

A consortium of leading financial institutions and investors today announced a new partnership under the Catalytic Finance Initiative (CFI) to direct $8 billion in total commitments toward high-impact sustainable investments.

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12/14/15 10:00 am EST

U.S. Trust today launched a new component of its proprietary and customizable Socially Innovative Investing (S2I) strategy. The Carbon Reserve-Free Strategy (CRF) offers investors who want to express their environmental values the opportunity to invest in a portfolio that excludes companies that own, extract, distribute and/or process carbon reserves, as well as first-order users including the utilities and energy sectors.

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11/18/15 1:15 pm EST

Bank of America has been recognized as a global leader for its actions, support and strategies in response to climate change. Recently three organizations honored the bank for its environmental efforts and programs.

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11/4/15 9:00 am EST

Today, the National Community Advisory Council (NCAC), a diverse group of nonprofit and private-sector leaders convened by Bank of America, recognizes its 10th anniversary with the addition of five new members representing environment and sustainability expertise. Meeting this week in Washington, D.C., the group of senior consumer, community and academic leaders gathers twice a year to advise the bank on critical issues impacting society. more...

7/27/15 8:30 am EDT

Bank of America has pledged to increase the company’s current environmental business initiative from $50 billion to $125 billion in low-carbon business by 2025 through lending, investing, capital raising, advisory services and developing financing solutions for clients around the world.

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6/24/15 9:00 am EDT

Through its annual Corporate Social Responsibility (CSR) Report released today, Bank of America shares successes and challenges of fulfilling its purpose of making financial lives better for customers, clients and communities through the power of every connection. The report includes details on how CSR is integrated into Bank of America’s business – its policies, practices, services, products and employee benefits.

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5/14/15 10:37 am EDT

Bank of America Corporation announced today that it has issued its second green bond for $600 million in aggregate principal amount, part of Bank of America’s ongoing commitment to accelerating the transition to a low-carbon economy by advancing renewable energy and promoting energy efficiency.

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3/23/15 8:45 am EDT

Bank of America today announced a $1 million grant to Water.org, a global organization that provides innovative, community-led and market-based solutions that change lives through safe water and sanitation. The grant will empower 100,000 people in southern India to obtain safe water and sanitation solutions, accelerating positive change in their homes and communities. This will be achieved through a Water.org program, WaterCredit, which enables more...

3/17/15 8:30 am EDT

Global investors have significantly pared back U.S. equity allocations as belief grows that the U.S. Federal Reserve will raise rates in the second quarter, according to the BofA Merrill Lynch Fund Manager Survey for March.

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2/24/15 3:34 pm EST

The U.S. Environmental Protection Agency (EPA) has recognized Bank of America for exceptional leadership in response to climate change. The announcement was made today at the EPA 2015 Climate Change Leadership Awards.

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11/25/14 8:00 am EST

Bank of America’s Global Wealth and Investment Management (GWIM) division today announced that it has signed the United Nations-supported Principles for Responsible Investment (PRI) on behalf of its discretionary asset management businesses. The unit (GWIM) is comprised primarily of Merrill Lynch Wealth Management and U.S. Trust.

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11/21/14 10:39 am EST

Bank of America today announced a partnership with the Global Alliance for Clean Cookstoves (GACC) to raise $100 million to help provide clean cooking solutions to millions of households in the developing world.

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11/3/14 9:00 am EST

BofA Merrill Lynch Global Research announced the October 30 launch of the BofA Merrill Lynch Green Bond Index (ticker GREN). The index is designed to track the performance of debt issued by quasi-governments and corporations where the proceeds of the issue are to be used solely for projects and activities that promote climate or other environmental sustainability purposes.

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10/7/14 11:00 am EDT

Bank of America was recognized recently in four prominent sustainability rankings and awards that measure, rank and report on the performance of companies that are considered sustainability leaders:

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9/30/14 3:33 pm EDT

The U.S. Green Building Council (USGBC) and Bank of America Charitable Foundation announced today the 11 projects selected for the 2014 Affordable Green Neighborhoods (AGN) grant program.

Each of these neighborhood redevelopment projects are pursuing certification under USGBC’s LEED for Neighborhood Development rating system and are notable for their planned affordable housing, compact design, commitment to green building and sites located near transit or other existing amenities.

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9/23/14 3:30 pm EDT

Bank of America today announced a Catalytic Finance Initiative, designed to stimulate at least $10 billion of new investment into high-impact clean energy projects. The initiative will focus on developing or advancing innovative financing structures that reduce investment risk, thereby attracting a broader range of institutional investors.

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8/26/14 10:00 am EDT

Bank of America announced today two new initiatives as part of its ongoing efforts to help address California’s severe drought conditions, including a funding commitment to the Pacific Institute. The $250,000 grant will go toward the Institute’s drought research and response effort. The bank also announced it will expand the use of xeriscaping – drought-tolerant landscaping that significantly reduces the need for supplemental water – at its California banking centers. more...

8/20/14 6:47 pm EDT

Today the World Bank (International Bank for Reconstruction and Development, rated Aaa/AAA) priced a $12.057 million World Bank Step-Up Callable Green Bond sold to Merrill Lynch Wealth Management clients. Bank of America Merrill Lynch offered the step-up fixed rate bonds, which are callable after one year. The bonds will pay a 2.32 percent coupon per year for the first five years (stepping up to a maximum final coupon of 8.82 percent per year) more...

6/24/14 9:00 am EDT

Bank of America today published its annual Corporate Social Responsibility (CSR) report, which provides a detailed overview of the company’s environmental, social and economic impact.

“Our CSR program used to revolve around philanthropy – those days are long gone,” said Andrew Plepler, Bank of America Corporate Social Responsibility and Consumer Policy executive. “While grantmaking is still critical, CSR is now a part of everything we more...