Bank of America has provided more than $66 billion in financing for low-carbon, sustainable business activities

As one of the world’s largest financial institutions, we believe Bank of America plays a critical role in accelerating the transition to a low-carbon, sustainable economy.

Recognizing the power of our financial capital to make a positive environmental impact, we have committed to deploy $125 billion in financing by 2025 to support low-carbon, sustainable business through lending, investing, raising capital, and developing financing solutions for clients around the world. Since 2013, we have invested more than $66 billion in clean energy, energy efficiency, water conservation, sustainable transportation, and other environmentally supportive activities – with $17 billion deployed in 2017 alone.

This commitment is part of our business strategy to connect private capital with the innovative ideas that are seeking to tackle global challenges – all while generating a strong return for our investors. It's how we can scale beyond what philanthropic dollars can do alone and it's part of our responsible growth strategy that allows us to drive social and economic progress.

Read more about our environmental business commitment in our 2017 Annual Report.

Green Bonds

Since 2013, when we co-authored “A Framework for Green Bonds,” the blueprint for the Green Bond Principles, Bank of America has been a thought-leader in shaping this entirely new asset class. Our efforts have helped create a market that had not existed before.

From 2007 through end of year 2017, Bank of America Merrill Lynch has been the leading green bond underwriter of green bonds globally, according to the Environmental Finance Green Bond Database. Bank of America has directly issued $2.1 billion in total funds through our corporate green bonds. Additionally, in 2017, we underwrote pro-rata $6.5 billion of green bonds on behalf of 41 unique clients.

In 2017, we coordinated the first international issuance of green bonds by a Brazilian development bank, BNDES ($1 billion) and led offerings for clients including the Australian Bank Westpac (€500 million) and the Canadian Province of Ontario (C$800 million).

Read more about how green bonds work.

Renewable Energy

In addition to green bond underwriting, we are driving growth in the renewable energy market by making significant tax equity investments through Bank of America Merrill Lynch’s Global Leasing Renewable Energy Finance team. Last year, the team facilitated the repowering of seven Texas wind farms with a $413.1 million tax equity investment with NextEra Energy Resources, the largest owner and operator of wind farms in the U.S. Repowering consists of replacing the majority of the wind turbine with new components, such as blades, hubs and gearboxes, but primarily leaves the foundation and tower unchanged. Benefits include a more efficient wind farm capable of producing incremental electricity from wind, a renewable, carbon-free source of energy.

Learn more about our support of the environment.

4/12/2018


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