BofA targets $50 billion for energy projects

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At the bank's annual meeting in May, Bank of America Chief Executive Brian Moynihan said a new environmental commitment was in the works. At the same meeting, Moynihan also faced criticism from environmental activists about the banks' underwriting of bonds for coal companies and utilities that burn coal.

 

Amanda Starbuck, director of the energy and finance program at Rainforest Action Network, on Monday said the group was disappointed with the bank's announcement.

 

"This new commitment completely skirts that issue and makes no strong commitments around actually reducing the coal, the climate emissions, the fossil fuels the bank is financing," she said.

 

Reuters
Rick Rothacker
Tuesday, June 12, 2012

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