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Bank of America offers USD 1 tln for green business initiatives

Monday 12 April 2021 12:08 CET | News

Bank of America has announced it will deploy USD 1 trillion for its environmental business initiative to push for green finance by 2030.

This means the bank will be expanding on the USD 300 billion it had announced for the same project in 2019. This announcement puts its total commitment to sustainable finance by 2030 at USD 1.5 trillion.

The initiative will help the bank push for a greener economy through lending, capital raising, advisory and investment services to help low-carbon and other sustainable businesses, as representatives from Bank of America said.

In February 2021, Bank of America said it would target net-zero greenhouse gas emissions before 2050. The announcement is in line with steps taken by other financial institutions to improve their performance on environmental, social and governance (ESG) issues. Interest in these issues has surged as investors assess how economies should look in the future.

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Keywords: Bank of America, supply chain finance, trade finance, lending
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: United States
This article is part of category

Banking & Fintech