Bank of America announces it will mobilise an additional $300bn in capital through its Environmental Business Initiative by 2030. This third commitment increases the company’s investment in low-carbon business to more than $445bn since 2007, when the company issued its first Environmental Business Initiative.

“The need to mobilise and deploy capital to address climate change has never been more urgent,” said Bank of America vice chairman Anne Finucane. “As one of the world’s largest financial institutions, Bank of America has a responsibility and an important role to play in helping to mitigate and build resilience to climate change by using our expertise and resources, as well as our ability to convene partners across sectors, to accelerate the transition from a high-carbon to a low-carbon society.”

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