Automated assembly line in car factory

A global economy under transformation

Rapid shifts in technology, energy and consumer behavior are fundamentally changing what society will look like in the next few decades

With countries responsible for 90% of global gross domestic product committing to Net Zero by 2050, the near-future economy will look very different from the present. The shift is happening rapidly, in 2021 alone the Global Financial Alliance for Net Zero, a collaborative effort involving leading players in financial services, announced more than $130 trillion in commitments.footnote1

But while the capital is available to radically reshape the global economy, the big question remains: Where will it all go? According to Haim Israel, Head of Global Thematic Research for Bank of America, the technology sector will be at the heart of the transformation. “Available technology will get us about halfway there,” he notes. “But the remaining fifty percent will come from technologies that aren’t invented yet.”

Early signs of this shift are already happening in everyday life. Liz Everett Krisberg, Head of the Bank of America Institute, sees collaboration between public policy, private investment and nonprofit insights already affecting consumer behavior.

From regulatory policy to critical timetables, The Path To A Clean Energy Future report details ten major considerations facing sustainability efforts in the global business community. To learn more about how major trends – including renewable energy becoming the mainstream energy of the future – are shaping the years ahead, visit the Bank of America Institute for similar insights and expertise.

The material in this article is informational only, does not constitute investment, financial, economic, accounting, legal or tax advice or recommendations, and should not be used as a basis for any investment decision. This article does not constitute and is not intended as a recommendation and/or an offer or the solicitation of an offer to buy any securities, purchase or sell any financial instrument, equity product or other investment, or as an official confirmation of any transaction or a recommendation for any investment product or strategy.

Explore more

A picture containing plane, water, outdoor.

Sustainable Aviation Fuel: Ready for Takeoff

Learn more about a new way to power flight in travel, transportation, freight and other industries that is giving decarbonization efforts a giant lift.
People standing in circle

Corporate environmental sustainability strategy & initiatives

Bank of America is committed to improving the environment in how we approach our global business strategy, work with partners, make our operations more sustainable, support our employees, manage risks and govern our activities.

The environment and our global economy

The Sustainable Markets Initiative places sustainability on par with profitability.
showing element 1 of 3