Bank of America Ahead of Plan on 10-Year, $20
Billion Environmental Business Initiative
Environmental Progress Report Details $8.4 Billion Directed toward Addressing Climate Change
September 16, 2010 08:33 AM Eastern Daylight Time
CHARLOTTE--(EON: Enhanced Online News)--In a report issued today, Bank of America announced it is ahead
of schedule on its 10-year, $20 billion business initiative focused on addressing climate change, launched in 2007.
Through June 2010, Bank of America has directed $8.4 billion through lending, investing, capital markets activity,
philanthropy and the company’s own operations. Details can be found in Bank of America’s 2010 Environmental
Progress Report at www.bankofamerica.com/environment.
“One way Bank of America helps set opportunity in motion for clients and communities is by financing renewable
and energy efficiency technologies and projects that reduce greenhouse gas emissions,” said Anne M. Finucane,
Global Strategy and Marketing officer and chair of Bank of America’s Environmental Council. “As an organization,
we believe we can help address climate change and spur economic recovery by creating new businesses,
technologies and jobs. Even in this challenging economy, the momentum we’re seeing demonstrates that strong
demand for capital, service and expertise in this sector continues to present a compelling business opportunity.”
The $20 billion environmental business initiative is comprised of hundreds of transactions in 45 states, the District of
Columbia, Canada and markets across Asia and Europe. The 2010 report provides an update on the company’s
progress toward its environmental goals, commitments and activities including:
l $2.8 billion in commercial real estate banking, financing projects relating to LEED® (Leadership in Energy and
Environmental Design) certification, ENERGY STAR, brownfield redevelopment and the use of renewable
energy tax credits.
l $2.8 billion in equity and debt capital raised to help facilitate clients’ climate change