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Bank Of America Increases Environmental Business Initiative Target To $1 Tln By 2030

Bank of America Corp. (BAC) said it has increased its 2019 commitment of $300 billion to low-carbon, sustainable business initiatives, to $1 trillion by 2030 as part of its Environmental Business Initiative.

The commitment advances an environmental transition across sectors to solutions in energy efficiency, renewable energy, sustainable transportation, resource efficiency, sustainable water and agriculture as well as improved forestry and pollution control measures.

The move follows the company's recent announcement to achieve Net Zero before 2050.

The company also set broader sustainable development goal-focused sustainable finance target of $1.5 trillion by 2030.

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