Environment

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.

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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...

12/11/18 12:30 pm EST

GivePower Foundation received a $250,000 grant from the Bank of America to support its newest initiative, bringing safe water to dry, coastal communities in developing areas.

GivePower’s mission is to install solar energy technologies that enable essential services critical for community more...

11/29/18 2:30 pm EST

Bank of America announced today the company’s new Blended Finance Catalyst Pool with an initial allotment of $60 million and the opportunity to stimulate additional private capital to finance sustainable development in emerging and developing markets. CEO Brian Moynihan made the announcement in Buenos Aires, Argentina at the Investor Forum 2018, which was hosted by the government of Argentina and the World Bank Group in connection with the upcoming G20 meeting. The new program is designed as a revolving pool to mobilize additional private capital toward the more...

11/28/18 12:00 pm EST

The Bank of America Charitable Foundation awarded the Minneapolis Parks Foundation a $1 million anchor grant for its RiverFirst Capital Campaign to catalyze new park and community investments along a revitalized Upper Mississippi Riverfront. Bank of America’s grant positions the Parks Foundation to complete its $17.9 million campaign for transformative parks; it also brings the RiverFirst Campaign to within $600,000 of the amount needed to break ground in early 2019 on the first phases of the more...

11/20/18 10:30 am EST

Juhl Energy announced today that it has selected GE Renewable Energy (GE:NYSE) to supply equipment for the first commercial integrated solar-wind hybrid power generation project in the U.S. The Minnesota-based clean energy company has developed the 2.0MW community-based renewable energy project to provide low-cost, locally generated energy to the Lake Region Electric Cooperative of Pelican Rapids, Minn. Bank of America (BAC:NYSE) has provided necessary financial support for the project, agreeing to purchase the project-generated renewable energy certificates (RECs), in line with its more...

11/1/18 9:30 am EDT

Water.org received a $3 million grant over three years from Bank of America to empower more than 250,000 people in southern India and Brazil with safe water and sanitation, accelerating positive change in their homes and communities. This will be achieved through Water.org’s microfinance solution, WaterCredit, which enables people in need to access small loans for water connections and toilets. Through market-driven financial solutions, this more...

9/24/18 9:00 am EDT

Except from "Climate Week NYC: Companies With Cleaner, Smarter Energy Use Outperform Their Peers":


RE100 companies are more profitable than their peers, a new report reveals today – underlining the business case for putting sustainability at the heart of corporate growth strategies.

The  more...

9/13/18 10:00 am EDT

Today, Bank of America released “Financing the Future: The Economic Opportunities of Bank of America’s Environmental Business Initiative.” The report, based on analysis conducted by consulting firm EY, examines the impacts of a $29.4 billion subset of the company’s $125 billion environmental business commitment. The capital deployed within the analyzed subset included renewable energy, more...

5/17/18 5:00 pm EDT

Bank of America Corporation announced today the issuance of its fourth and largest green bond for $2.25 billion in aggregate principal amount, furthering the company’s commitment to deploying capital to advance sustainable projects. The bond’s proceeds will support increasing renewable energy generation. 

With this offering, Bank of America becomes the first U.S. financial institution to issue four corporate green bonds, raising a total of $4.35 billion for renewable energy projects since 2013. The company has also been the leading underwriter of green bonds globally since 2007, more...

3/1/18 10:00 am EST

Today, the U.S. Green Building Council (USGBC), creators of the Leadership in Energy & Environmental Design (LEED) green building program, with support from the Bank of America Charitable Foundation, announced a new grant program designed to recognize the sustainability and green building achievements of U.S. cities pursuing LEED for Cities certification. Initial grant more...

3/1/18 9:35 am EST

Bank of America has been named a founding member of the newly formed Stanford Strategic Energy Alliance, which will facilitate research and education between companies and faculty members with shared scholarly interests.

These efforts are in combination with the company’s $125 billion environmental business commitment more...

11/30/17 11:02 am EST

GRID Alternatives, a national leader in making clean, affordable solar power and solar jobs accessible to low-income communities, announced today a $500,000 grant from Bank of America Charitable Foundation to support its SolarCorps Fellowship Program. This national grant builds on the bank’s past support for GRID in locations in California and Colorado.

The SolarCorps Fellowship Program has up to 60 fellows working with GRID in multiple states across the country. Participants gain hands-on training and more...

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.

This is the second year that Bank of America has won the CSR accolade, having received more...