BofA announces $50B environmental business initiative

In North Carolina, Bank of America announced a new 10-year, $50 billion environmental business initiative to help address climate change, reduce demands on natural resources and advance lower-carbon economic solutions. The company also introduced significant new goals to reduce the environmental impact of its own operations.

Effective Jan. 1, 2013, the new environmental business initiative will consist primarily of lending, equipment finance, capital markets and advisory activity, carbon finance, and advice and investment solutions for clients. Focus areas include energy efficiency, renewable energy and energy infrastructure including sustainable biofuels, transportation and water and waste.

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