Pledge by Bank of America
Partnerships and Financial Innovation to Support Climate Action and Tree Equity$300 Billion Commitment to Develop Solutions to Climate Change
Supporting actions: Avoided Deforestation, Forest Product Markets and Innovation, Workforce Development, Conservation Finance,
As one of the world’s largest financial institutions, Bank of America recognizes the role we play in accelerating the transition to a low-carbon, sustainable economy – and our $300 billion commitment to mobilize capital and develop solutions to climate change is focused on doing just that. We are using partnerships and financial innovation to protect, restore, conserve and expand critical healthy forest ecosystems. For years we’ve worked with partners like American Forests, Arbor Day Foundation, The Nature Conservancy and American Forests Foundation to transform communities by planting trees, especially in low-income, moderate-income and underserved communities. We’re proud to extend this partnership and support 1t.org’s efforts to conserve, restore and grow 1 trillion trees by 2030. As a partner of the 1t.org initiative, we will help develop the voluntary carbon offset market which can lead to more tree planting and restoration projects.
Arbor Day Foundation
American Forests Foundation
We plan to focus our near term work with various leading nonprofit forest organizations, the United States Department of Agriculture, carbon offset verification and certification agencies, and large corporations to catalyze action on carbon offset purchase and financing. Our goal is to bring much needed upfront capital into various reforestation and restoration projects as soon as possible.
We will work with partners, including American Forests, Arbor Day Foundation, The Nature Conservancy and American Forest Foundation and their local planting partners on strategies that support ecologically appropriate and climate informed forestry, long-term stewardship and community engagement to benefit all stakeholders.