Environmental sustainability and commitment

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 deployed more than $87 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 2017 Annual Report and recent press releases on our environmental initiatives. You may also find of interest a recent report detailing how our environmental business commitment is making a positive impact on the U.S. economy. The report is “Banking on a Low-Carbon Economy: The Economic Impacts of Bank of America’s $125 Billion Environmental Business Initiative”.

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 deployed more than $66 billion to finance low-carbon sustainable business activities. In 2017 alone we provided $17 billion toward these activities. This wouldn’t be possible without the active participation and contribution of our lines of business (LOB) 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. To date, CFI partners have completed 25 deals in both developed and emerging markets and have helped to mobilize more than $9 billion in investments. Learn more about our Catalytic Finance Initiative in our 2017 Annual Report or read a recent press release.

Learn more. , about our 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 2018 we announced the issuance of our fourth and largest corporate green bond of $2.25 billion in aggregate principal amount, furthering our commitment to advancing renewable energy generation. 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.

Equally as important, the company has been the leading underwriter of green bonds globally since 2007, underscoring its continued leadership in addressing climate change by financing the transition to a low-carbon, sustainable economy. Bank of America Merrill Lynch (BofAML) is the leader in green bond underwriting. According to the Environmental Finance green bond database, BofAML has been the leader in green bond underwriting globally since 2007. Additionally, Bloomberg league tables rank BofAML as the leading corporate and government green bond underwriter since 2007. In 2017 alone, BofAML underwrote $6.5 billion (pro-rata basis) in green bonds on behalf of 41 unique clients. Since 2007, BofAML has underwritten more than $27 billion on behalf of more than 100 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 2017 alone, we provided more than $22 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
Clean Energy Access Powers Independence & Opportunity for Families in Rural India women in India
Press to play the video Anne Finucane interview on stage
We’re deploying capital to transition to a low-carbon, sustainable economy wind turbines at sunset
Jumpstarting clean energy careers with GRID Alternatives GRID Solar Panels
Press to play the video Anne Finucane Squawk Box Scaling Up Water.Org's Partners
When Blue is Green: Supporting critical water work in Brazil Long river
Investing in the environment, strengthening communities and empowering employees road in green hills
Press to play the video Los Angeles cityscape
The economic impact of Bank of America's $125 billion environmental business initiative Center of graphic:40K Jobs Branches:23% Wind Renewable Energy, 6% Low-Carbon Vehicles, 20% Energy Efficient Buildings - Residential, 13% Energy Efficient Buildings - Commercial and Industrial, 20% Energy Efficient Installations, 14% Solar Renewable Energy, 4% Other Renewable Energy
Bank of America Chicago Marathon awarded sustainability certification Carey Pinkowski, Bank of America Chicago Marathon Executive Race Director
Chicagoans Divvy into marathon weekend owner of Divvy bikes
Press to play the video Women catching water in their hands from spout and smiling
Green Bonds for a better planet birdseye view of solar panels on ground
Solving the world's safe water problem with innovative financing Children smiling next to water spout
Press to play the video ESG circle, outside items Environmental leaf, Social group of houses, Governance people in front of a capital building
Delivering clean water and sanitation through partnership with Water.org Woman catching water from spout with hands
Awards and recognition: See how our environmental commitment is being recognized  
A Transforming World: Earth  
Supporting the New York City Energy Efficiency Corporation partnering locally to help transition to a lower carbon footprint