Commercial, Finance, Sourcing Renewables - April 5, 2022
Bank of America Deployed $250B Sustainable Finance Capital
Bank of America announced that it mobilized and deployed approximately $250 billion in sustainable finance activity for 2021, an all-time high and a significant increase over 2020 levels.
This is part of Bank of America's $1.5 trillion by 2030 sustainable finance goal announced last April.
"Our sustainable finance strategy permeates every aspect of how we deliver for our clients, employees and communities, and we are committed to a more inclusive, net zero society for all. Our sustainable finance focus is long-standing and continues to play a catalytic role in scaling our environmental transition and inclusive social development goals across the globe," said Paul Donofrio, Vice Chair of Bank of America in a statement. "As a financial institution, we are leveraging the power of our size, expertise and the capital markets to mobilize more investments and financings to address these global challenges and opportunities."
Bank of America provides lending, capital raising, advisory, and investment services, along with other financial and risk management solutions for clients transitioning to a low-carbon economy.
Highlights of the bank’s 2021 sustainable finance activities include:
- Set a goal to deploy and mobilize $1.5 trillion of capital in sustainable finance by 2030 to deliver for both environmental transition ($1 trillion out of the total goal) and inclusive social development
- Set a goal to achieve net zero GHG emissions in financing activities, operations and supply chain before 2050
- Underwrote $47.1 billion in ESG-themed bonds on behalf of more than 182 clients in 2021
- Continued to be a top renewable energy tax equity investor since 2015 with a portfolio of approximately $12 billion as of year-end 2021
Read These Related Articles:
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- Bank of America Sets 2030 Targets
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- Bank of America sets steps for net zero by 2050
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