BofA Boosts Environmental Business Target to $1 Trillion (1)

April 8, 2021, 10:24 PM

Bank of America Corp. increased to $1 trillion its goal of financing activities that accelerate the transition to a low-carbon, sustainable economy by 2030.

The new target expands on a $300 billion commitment announced in 2019, the bank said in a statement Thursday. Projects that would contribute to meeting the goal include financing electric vehicle purchases and municipal recycling plants, advising on mergers and acquisitions for wind or solar companies, and underwriting green bonds.

The pledge is part of a broader $1.5 trillion commitment to activities that address the United Nations’ sustainable-development goals by 2030.

Anne Finucane
Photographer: Alex Flynn/Bloomberg

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