North America's best bank for sustainable finance 2018: Bank of America
Awards for Excellence 2018
In green bond issuance, Bank of America leads the way, adding a fourth green bond to its list in May this year. It was its largest yet, at $2.25 billion, and its proceeds will support renewable energy generation.
It is not just its own green bonds that the bank is supporting. In 2017 alone, it underwrote $6.5 billion (on a pro-rata basis) in green bonds on behalf of 41 clients. It is a part of the bank’s commitment to deploy $125 billion in financing for low-carbon, sustainable business activities and indicates where the bank sees the future. It is also part of the reason why Bank of America is North America’s best bank for sustainable finance.
While the bank is perhaps best known for its environmental finance, chairman and chief executive Brian Moynihan has also been steering the bank in social and community finance. In housing, for example, the bank had a record year last year, providing more than $4 billion in loans, tax credit equity investments and other real estate development solutions to create housing for individuals, families, veterans, seniors, the formerly homeless, those with special needs and other at-risk groups.