As the bank’s second sustainable finance goal under its EBI, the analysis reviews information between 2013 and 2018. This data showed that the bank financed $41.6 billion towards U.S. projects or companies that yielded a direct environmental benefit by supporting energy conservation or producing alternative energy. The financing was directed towards renewable energy production, primarily wind energy and supporting vehicle loans, construction of energy efficient buildings, implementation of energy conservation measures, water infrastructure upgrades, and urban transit infrastructure upgrades.
These findings underscore our firmly held belief that tackling climate change is not just an environmental imperative, but it is also an economic opportunity. As we continue to grow responsibly as a company, Bank of America is in a position to provide the financing necessary to build a more sustainable global economy. EY’s analysis demonstrates this point and serves as a powerful reminder of the greater opportunities ahead.
To learn more about Bank of America’s environmental commitment and how we are working across the globe to transition to a low-carbon, sustainable economy, visit our environmental site. Click here to view a copy of the full report.