AfE 2024
Nearly all banks today make claims to be helping to save the planet in one way or another. One that has consistently done more than most when it comes to shifting the balance within the financial services industry is Bank of America, and it wins the award for North America’s best bank for sustainable finance.
The bank has its own commitments – to be net zero in terms of greenhouse gas emissions across financing, operations and supply chain by 2050, with interim targets for each by 2030. In 2021, it announced a target to deploy $1.5 trillion in sustainable finance by 2030. So far, it stands at about $600 billion.
BofA is one of the leaders in environmental, social and governance-related debt issuance, both in its own account and in helping bring other borrowers to market through bonds and loans. But while green bonds often get the attention, there are many other innovative deals being brought, such as those that use the transferable tax credit provisions of the US Inflation Reduction Act (IRA) of 2022.
Karen