Fueling Asia Pacific’s transition to a low-carbon economy

Apr 16, 2018

Since 2007, our company has provided more than $76 billion in financing for low-carbon and sustainable business activities. As part of our second environmental business commitment we are directing $125 billion in capital, along with significant intellectual capital, to develop solutions to climate change and other environmental challenges. Learn more.

In Asia Pacific, Bank of America Merrill Lynch continues to lead the way in both the debt and equity markets and providing capital for environmental and sustainable business activities. Whether it is through the use of green bonds or providing the much needed capital to finance clean energy projects, our company is committed to making a positive impact on the environment.

Bank of America Merrill Lynch underwrote more than $25 billion in green bonds in partnership with peer institutions on behalf of 27 unique clients in 2016, of which $7 billion Bank of America Merrill Lynch directly underwrote and count toward our $125 billion environmental business commitment. Also, Bloomberg New Energy Finance recognized Bank of America Merrill Lynch business as the number one underwriter of green bonds in 2014, 2015 and 2016.

Did you know?

  • Bank of America Merrill Lynch has been at the forefront of the green bond market in Asia Pacific since its inception.
  • In Asia Pacific, we are a leading mergers and acquisitions advisor in the renewable energy sector.
  • Awarded Best ESG Bank in Asia, 2017 & 2016 – The Asset Triple A Asian Awards by The Asset magazine
  • Awarded Best Asia Green Adviser, 2016 – The Asset Triple A Asian Awards by The Asset magazine
  • Bank of America (BANA India) provided two grants to the Professional Assistance for Development Action (PRADAN) to set up solar micro-grids in 14 off-grid tribal villages in Gumla and Khunti, Jharkand, reaching 700 households while also supporting clean drinking water in 6 villages.

Lighting the way to progress

The villages of Humranpada and Vanvasipada, located in the remote hills of Jawhar in India’s Maharashtra state, are home to tribal households who struggle to survive on less than a dollar a day. Most of the working villagers are farm hands who take up menial jobs as migrant workers outside the farming season. Residents have no access to electricity, running water or in-house toilets. Women and adolescent girls bear the brunt of the impact – making a trip of up to four hours a day to collect water for the household from water pits.

In partnership with Pragati Pratishtan, Bank of America funded the installation of solar micro-grids to power village households. And the impact has been remarkable. On average, having a simple light bulb and power at home has extended daily hours of mobility - especially for women - by one hour and 15 minutes, and overall productive hours by two hours.

In Vanvasipada, the possibilities of solar power have inspired households to work together to set up a water pump and storage tank to help tap a common well.

Quality of life and livelihood prospects have improved as well. Villagers have been purchasing flour mixers and grinders and even refrigerators – opening up opportunities for small businesses and easing the burden of women in the household.

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