Bank of America's new
10-year, $50 billion environmental business goal to help address climate change, reduce demands on natural resources and advance lower-carbon economic solutions is underway. The company also introduced significant new goals to reduce the environmental impact of its own operations.
The new goal follows the anticipated completion of the company’s current 10-year, $20 billion environmental business initiative – a program that is more than four years ahead of schedule.
The new environmental business initiative will consist primarily of lending, equipment finance, capital markets and advisory activity, carbon finance, and advice and investment solutions for clients. The bank also announced a goal to provide $100 million in grants and program-related investments to nonprofit organizations, community development financial institutions and other non-governmental organizations promoting low-carbon and resource conservation solutions.
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