(Boursier.com) -- Bank of America today announced a new 10-year, $50 billion environmental business goal 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.
The new goal, effective Jan. 1, 2013, follows the anticipated completion of the company's current 10-year, $20 billion environmental business initiative - a program that is more than four years ahead of schedule.
"Environmental business delivers value to our clients, return for our shareholders, and helps strengthen the economy," said Bank of America Chief Executive Officer Brian Moynihan. "We met our prior goal in about half the time we set for ourselves, so more than doubling our target is ambitious but achievable."
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