Environmental sustainability

Our commitment to environmental sustainability


$125 billion, committed by 2025 to low-carbon financing and sustainable business activities At Bank of America, we are committed to improving the environment in how we approach our global business strategy, work with partners, support our employees, make our operations more sustainable, manage issues and govern our activities. Since 2007, we have provided more than $70 billion in financing for low-carbon and sustainable business activities. As part of our second commitment established in 2012, and increased in 2015, we will provide $125 billion in capital, along with significant intellectual capital, to develop solutions to climate change and other environmental challenges. We rigorously manage environmental and social risks across our enterprise and have established an Environmental and Social Risk Policy Framework to provide transparency into those policies and processes. To learn more about our environmental commitment and how we are working across the globe to transition to a low-carbon, sustainable economy, read our ESG Executive Summary and recent press releases on our environmental initiatives.
 

Our environmental business strategy

We understand the powerful role we have to play—globally—in helping our customers and clients navigate the transition to a low-carbon, sustainable economy.

Our company purpose is to serve the financial needs of all our customers—from large corporate clients and institutional investors to individual consumers and small businesses. This is the cornerstone of our environmental business strategy: financing opportunities that create positive environmental change and enabling individuals and institutions to invest in environmental sustainability.


Supporting environment in every line of business

Since the launch of our second commitment in 2013, we have provided more than $49 billion to help finance low-carbon and sustainable activities. In 2016 alone we provided $15.9 billion toward these activities. This wouldn’t be possible without the active participation and contribution of our lines of business across the company.


Catalytic Finance Initiative

Our Catalytic Finance Initiative (CFI) is designed to stimulate at least $10 billion of new investment into high-impact clean energy projects. The initiative focuses on developing or advancing innovative financing structures that reduce investment risk, thereby attracting a broader range of institutional investors. In 2016 eight additional partners joined the CFI for a total commitment of $8 billion to date.

Learn more. , about Catalytic Finance InitiativeRead the ESG Executive Summary report, which shares two client examples of the CFI at work.

 

Green Bonds

We're excited to play a leadership role in the rapid expansion of the green bond market. In 2016 we announced the issuance of our third and largest green bond for $1 billion in aggregate principal amount, furthering our commitment to advancing renewable energy generation. The bond, which is exclusively being used to fund wind, solar and geothermal projects financed by the bank, brings the total funds raised by our company through green bonds to $2.1 billion. In 2013, we issued the first benchmark-sized corporate green bond ― a $500 million offering. We followed up that offering with a $600 million green bond in May 2015.

Equally as important, Bloomberg New Energy Finance recognized Bank of America Merrill Lynch business as the number one underwriter of green bonds in 2014, 2015 and 2016. In 2016 alone, Bank of America Merrill Lynch underwrote more than $25 billion in green bonds on behalf of 27 unique clients.

Learn more about the projects financed by our green bonds. Also, view additional details in our Annual Report.


Our partners

Big challenges require collaboration. That’s why we partner with leading non-profit and academic organizations that are working toward a sustainable, low-carbon energy future, expanding access to clean and safe water, and developing extreme weather and climate change resilience solutions. These partners are researching next generation solutions, demonstrating strategies that can be scaled, and making a significant and positive impact across the globe.

In 2016 alone, we provided more than $21 million in philanthropic support to organizations helping to make a difference in local communities and around the globe.

Low Carbon Energy Future Infographic - American Forest Logo, Ashden Sustainable Solutions, better lives Logo, Ceres, Sustainability is the bottom line. logo, Givepover logoAccess to clean and safe water Infographic, Water.org Logo, Village Water LogoClimate Change and Extreme Weather Resilience Infographic, Center For Climate And Energy Solutions Logo, U.S. Green Building Council Member Logo