Bank of America mobilised, deployed $250 billion in sustainable finance capital in 2021

Bank of America said on Tuesday it has mobilised and deployed approximately $250 billion in sustainable finance activity for 2021, an all-time high and a significant increase over 2020 levels.

The lender had announced a sustainable finance goal of $1.5 trillion by 2030 last April. It has made significant progress towards mobilising and scaling capital deployment to drive environmental and social change in line with the 17 United Nations Sustainable Development Goals, it said.

The lender aims to achieve net zero greenhouse gas emissions in financing activities, operations and supply chain before 2050. It underwrote $47.1 billion in ESG-themed bonds on behalf of more than 182 clients in 2021 and was a top renewable energy tax equity investor since 2015 with a portfolio of approximately $12 billion, as of year-end 2021.

“Our sustainable finance strategy permeates every aspect of how we deliver for our clients, employees and communities, and we are committed to a more inclusive, net zero society for all. Our sustainable finance focus is longstanding and continues to play a catalytic role in scaling our environmental transition and inclusive social development goals across the globe,” said Paul Donofrio, vice chair of Bank of America.

“As a financial institution, we are leveraging the power of our size, expertise and the capital markets to mobilise more investments and financings to address these global challenges and opportunities.”

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