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United Nations Department of Economic and Social Affairs Sustainable Development

$50 billion, 10 year, Environmental Business Initiative

    Description
    Description
    Bank of America has set a goal to commit $50 billion over ten years to finance Energy Efficiency, Renewable Energy and Energy Access and other actitives that advance the low-carbon economy.
    Implementation of the Project/Activity

    By mobilize financial resources to support energy efficiency, For further detailed information. Please refer to the deliverables.

    Partners
    Bank of America

    Goal 7

    Ensure access to affordable, reliable, sustainable and modern energy for all

    Goal 7

    7.1

    By 2030, ensure universal access to affordable, reliable and modern energy services

    7.1.1

    Proportion of population with access to electricity

    7.1.2

    Proportion of population with primary reliance on clean fuels and technology

    7.2

    By 2030, increase substantially the share of renewable energy in the global energy mix
    7.2.1

    Renewable energy share in the total final energy consumption

    7.3

    By 2030, double the global rate of improvement in energy efficiency
    7.3.1

    Energy intensity measured in terms of primary energy and GDP

    7.a

    By 2030, enhance international cooperation to facilitate access to clean energy research and technology, including renewable energy, energy efficiency and advanced and cleaner fossil-fuel technology, and promote investment in energy infrastructure and clean energy technology
    7.a.1

    International financial flows to developing countries in support of clean energy research and development and renewable energy production, including in hybrid systems

    7.b

    By 2030, expand infrastructure and upgrade technology for supplying modern and sustainable energy services for all in developing countries, in particular least developed countries, small island developing States, and land-locked developing countries, in accordance with their respective programmes of support

    7.b.1

    Installed renewable energy-generating capacity in developing and developed countries (in watts per capita)

    Based on historical performance, this would equate to approximately $35 billion in SE4All's focus areas of Renewable Energy, Energy Efficiency and Energy Access.
    Financing (in USD)
    50000000000
    No progress reports have been submitted. Please sign in and click here to submit one.
    False
    Action Network
    Sustainable Energy for All (SE4All)
    This initiative does not yet fulfil the SMART criteria.
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    Timeline
    01 January 2012 (start date)
    01 January 2022 (date of completion)
    Entity
    Bank of America
    SDGs
    Geographical coverage
    USA
    Countries
    United States of America
    United States of America
    Contact Information

    Ashwani Chowdary, Global Environmental Executive