Environment

7/9/20 12:05 am EDT

Rocky Mountain Institute (RMI), a leading global clean energy nonprofit, today announced the launch of the Center for Climate-Aligned Finance in collaboration with Wells Fargo, Goldman Sachs, Bank of America and JPMorgan Chase — four of the world's largest financial institutions. The center's mission is to serve as an engine room for the financial sector to partner with corporate clients to identify practical solutions through deep partnerships with industry, civil society and policymakers to facilitate a transition in the global economy to more...

6/29/20 1:00 pm EDT

Bank of America announced today it is partnering with Duke Energy, NRG Energy, 3Degrees, NativeEnergy and Birdseye Renewable Energy to expand its renewable energy commitment through 10 agreements to purchase solar electricity for its operations in three states, including North Carolina, home to the company’s headquarters. These offsite solar projects are located in low-to-moderate-income communities, and all of the projects help support jobs, clean energy access and more sustainable communities.  

“These unique projects and partnerships build on our achievement of carbon neutrality more...

6/5/20 9:00 am EDT

Bank of America is expanding its commitment to the Arbor Day Foundation through a second $250,000 grant to support efforts in four U.S. cities to increase the number of trees planted in low- and moderate-income neighborhoods. Cities will receive the funding from the Community Resiliency Grant program and recipients include local nonprofit organizations and municipal agencies. This grant will support the following cities:

  • St. Louis, Mo.
  • Durham, N.C.
  • Cleveland, Ohio
  • Nashville, Tenn.

 

These programs will drive green more...

4/30/20 10:15 am EDT

Today, Bank of America released its Task Force on Climate-related Financial Disclosures (TCFD) Report, reflecting its support for disclosure and transparency of climate-related business risks and its focus on ensuring climate-related risks and opportunities are properly managed within its business. The company’s TCFD Report articulates how it evaluates the impact of climate change on its business, effectively manages those risks, and continues to enhance its understanding of how to measure and model climate-related risks and their potential significance.

“At Bank of America, our more...

2/25/20 10:00 am EST

The U.S. Green Building Council (USGBC), creators of the Leadership in Energy and Environmental Design (LEED) green building rating system, announced that Bank of America has provided an additional $500,000 grant to the LEED for Cities and Communities program, which helps local governments pursue LEED certification and provides access to educational resources and technical support. This is Bank of America’s third grant supporting the program. The new funding will assist more...

1/21/20 5:29 am EST

Bank of America announced today that it has met its carbon neutrality goal a year ahead of schedule, pending third-party verification. The goal was accomplished by reducing Scope 1 and 2 emissions from its facilities, purchasing 100 percent renewable electricity and buying carbon offsets for its remaining unavoidable emissions.

“We are delivering responsible growth by focusing on serving our clients, investing in our teammates, supporting the communities where we operate – AND by addressing important societal priorities,” said Brian Moynihan, CEO of Bank of America more...

1/14/20 9:45 am EST

responsAbility, a leading Swiss impact asset manager, has announced the first close of its new Access to Clean Power Fund with commitments that could go up to US$200 million. The private debt fund addresses the lack of access to clean power globally with a strong focus on sub-Saharan Africa and South and Southeast Asia. It is set up as a blended finance structure offering different risk tranches, and has received commitments from a number of prominent public and private investors. The fund is an initiative launched in partnership with Bank of America and other financial institutions and more...

12/17/19 10:05 am EST

Electrify America, a leader in ultra-fast charging for electric vehicles (EV), announced today that it is teaming up with Bank of America, one of the world’s leading financial institutions, to install electric vehicle charging stations at select financial center locations across the U.S. This marks the first time Electrify America will install EV charging stations at a bank location, further adding convenient options for consumers who drive battery electric vehicles.

“As we continue to offer more convenient places to build new charging stations, Bank of America was a natural fit,” more...

12/16/19 10:15 am EST

In an important step forward for India’s renewable energy growth story, Fourth Partner Energy, one of the country’s largest distributed solar companies, announced today that Bank of America is providing a local currency revolving credit facility. The developer will deploy these funds to further grow its solar operational portfolio over the next 18 months. By providing the new revolving credit facility, Bank of America is helping to accelerate the transition to a cleaner and more sustainable power generation base in India.

This transaction expands upon Bank of America’s more...

12/5/19 12:00 am EST

Bank of America announced today that it has met its $125 billion goal to deploy capital to low-carbon, sustainable business activities. This commitment was achieved six years ahead of schedule, as demand for capital for sustainable innovations and projects has continued to increase. The financing supported hundreds of thousands of jobs and helped contribute tens of billions of dollars to U.S. GDP. It also supported activities in areas such as energy efficiency, renewable energy, sustainable transportation, water conservation, and sustainable land use. The goal is part of Bank of America’s more...

10/25/19 12:30 pm EDT

Bank of America Corporation announced today the issuance of its fifth corporate green bond for $2 billion in aggregate principal amount, furthering its commitment to sustainable finance and environmental, social and governance (ESG) leadership. The bond’s proceeds will support projects focused on affordable, clean energy in support of the United Nations Sustainable Development Goals (SDGs).

”At Bank of America, our focus on sustainable finance helps to advance the SDGs, specifically in this case to increase the scale and impact of clean energy projects across the globe,” said Anne more...

10/18/19 9:00 am EDT

As announced by the United Nations, Bank of America has joined the U.N. Global Investors for Sustainable Development (GISD) Alliance. This partnership further demonstrates the bank’s commitment to responsible growth and mobilizing more capital to help advance and scale investment in the U.N. Sustainable Development Goals (SDGs) by 2030.

“We can ensure sufficient private-sector capital is available to address societal priorities,” said Brian Moynihan, CEO of Bank of America. “It happens when more...

9/24/19 11:00 am EDT

With the first-ever insurance policy for a coral reef in place on the Mesoamerican Reef in Mexico, The Nature Conservancy (TNC), with support from Bank of America, today announced plans to research the expansion of an innovative, nature-based insurance program that expedites the repair of coral reefs after major storms.

Today’s announcement of an additional $1 million grant from Bank of America enables TNC’s scientists to conduct studies in both Florida and more...

6/5/19 10:00 am EDT

Bank of America today announced the expansion of its environmental operations efforts to include the installation of solar panels across multiple locations through its Onsite Solar Initiative. The addition of solar power at financial centers, ATMs, office locations and other operational buildings will reduce energy costs for the bank and greenhouse gas (GHG) emissions. The program is expected to generate more than 25 megawatts of renewable electricity that will directly power the bank’s operations with clean energy.

“Low-carbon energy programs like this demonstrate how Bank of more...

5/22/19 10:00 am EDT

Today, the U.S. Green Building Council (USGBC), creators of the Leadership in Energy & Environmental Design (LEED) green building program, announced a new $500,000 grant from Bank of America. The funding supports the LEED certification of 15 U.S. cities and communities. The grant provides financial assistance, educational resources and technical support throughout the certification process. USGBC and Bank of America launched the LEED for Cities and Communities grant program with six U.S. cities in more...

4/18/19 11:00 am EDT

The Arbor Day Foundation today announced a $250,000 grant from Bank of America to expand the tree canopy in urban communities and strengthen neighborhoods against the impacts of a changing climate. The funding will support green infrastructure projects in four U.S. cities: Tucson, Arizona; Kansas City, Missouri; Pawtucket, Rhode Island; and Norfolk, Virginia. The Community Resiliency Grant program supported by Bank of America is working with local nonprofit organizations and municipal agencies in the grantee cities.

“Through more...

4/4/19 6:00 am EDT

Bank of America announces it will mobilize an additional $300 billion in capital by 2030 through its Environmental Business Initiative. This third commitment increases the company’s investment in low-carbon business activities as part of its focus on deploying capital for responsible, sustainable growth. Through lending, investing, capital raising, advisory services and developing financing solutions, this new commitment will drive innovation and help to accelerate the transition to a low-carbon, sustainable economy.

more...
3/26/19 3:03 pm EDT

Recycle Across America (RAA) announces a $250,000 grant from Bank of America to create proper recycling in local communities and schools with the use of the societywide standardized labels for recycling bins. To date, Bank of America’s support has helped more than 1 million K-12 students recycle right and has helped school districts save over $5 million in trash-hauling fees. Since 2015, the bank has provided $400,000 in grant funding to RAA, supporting its efforts to standardize recycling labels. more...

2/4/19 2:08 pm EST

More companies than ever are switching to electric vehicles, helping to combat air pollution in cities, lower business risk and future proof their operations as low emission zones are introduced globally.

The Climate Group’s first report on EV100, its global initiative to accelerate the market shift to electric transport by 2030, showcases the leadership of multinational companies including Ingka Group (formerly IKEA Group), Deutsche Post DHL Group and Bank of America.

To date, more...

1/25/19 10:00 am EST

Bank of America, N.A. has issued its first social bond, highlighting the company’s commitment to deploying capital to address global issues outlined in the United Nations Sustainable Development Goals (SDGs). The bond’s proceeds will refinance the company’s investments in affordable housing and community development financial institutions (CDFIs).

With this offering, Bank of America becomes the first U.S bank to issue a social bond. The net proceeds will be used to help address pressing more...