Economy

Bank of America 2030 goal: will deploy $1 trillion for sustainable finance

By Tanvi Sabharwal

Thursday – The Bank of America said that it will deploy $1 trillion for its environmental business initiative to push for green finance by 2030.

Expanding on the $300 billion it had announced in 2019 for the same project, the U.S. bank said that the latest announcement makes a total commitment to sustainable finance by 2030 at $1.5 trillion.

The announcement was in a series of those made by other top-tier financial institutions as they take steps to improve their performance on environmental, social and governance (ESG) issues.

Bank of America had also announced in February that it would target net-zero greenhouse gas emissions before 2050.

Interest in these issues has surged as investors assess how economies should look in the future.

The initiative will help the bank’s push for a greener economy through lending, capital raising, advisory and investment services to help low-carbon and other sustainable businesses.

Tags: Bank of America

Tanvi Sabharwal

Tanvi Sabharwal is a graduate in Economics with experience in marketing and strategy. A media enthusiast, she has a deep-rooted interest in social policy and development. Tanvi is currently working as a Business and Current Affairs reporter at USAnewshour.com and can be reached at tanvi.sabharwal21@gmail.com