Six top lenders to the aviation sector — Bank of America, BNP Paribas, Citi, Crédit Agricole CIB, Societe Generale and Standard Chartered — have announced that they will partner with RMI’s Center for Climate-Aligned Finance to help decarbonize the aviation sector through the formation of the Aviation Climate-Aligned Finance Working Group. The Working Group aspires to create a collective climate-aligned finance (CAF) framework that defines common goals for action for aviation sector decarbonization. The CAF framework is a commitment by participating financial institutions to annually assess and disclose, consistent with…
Read MoreTag: Bank of America
Bank of America Mobilized and Deployed $250 Billion in Sustainable Finance Capital in 2021
Bank of America has 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. As part of Bank of America’s $1.5 trillion by 2030 sustainable finance goal announced last April, the company has made tremendous progress towards mobilizing and scaling capital deployment to drive environmental and social change in line with the 17 United Nations Sustainable Development Goals. “Our sustainable finance strategy permeates every aspect of how we deliver for our clients, employees and communities,…
Read MoreBank of America Increases Environmental Business Initiative Target to $1 Trillion by 2030
Bank of America has announced a goal of deploying and mobilizing $1 trillion by 2030 in its Environmental Business Initiative in order to accelerate the transition to a low-carbon, sustainable economy. This commitment will anchor a broader $1.5 trillion sustainable finance goal by both environmental transition and social inclusive development purposes, spanning business activities across the globe. “The private sector is well-positioned to ensure that the capital needed – at the scale it is needed – can drive the transition to a low-carbon, sustainable economy,” said Bank of America Vice…
Read MoreBank of America Increases Commitment to Advance Racial Equality and Economic Opportunity to $1.25 Billion
Bank of America has announced that it has increased its $1 billion, four-year commitment to advance racial equality and economic opportunity to $1.25 billion over five years. This effort further accelerates work already underway to address racial equality and opportunity through direct actions, investments and work to catalyze similar efforts across the private sector. To date, the company has made more than $350 million in various investments from its initial $1 billion four-year commitment, announced in June 2020, across its primary focus areas of health, jobs/reskilling, affordable housing and small…
Read MoreBank of America Announces Actions to Achieve Net Zero Greenhouse Gas Emissions before 2050
Building on Bank of America’s longstanding support for the Paris Climate Agreement, the company has outlined initial steps to achieve its goal of net zero greenhouse gas (GHG) emissions in its financing activities, operations and supply chain before 2050. Bank of America continues to actively engage with its clients to help accelerate their own transitions to net zero, and it plans to establish interim science based emissions targets for high-emitting portfolios, including energy and power. In addition, Bank of America released its broader 2030 operational and supply chain goals as…
Read More