By Matthew Heimer, Fortune Magazine
[Green] bonds were the brainchild of dealmakers at Bank of America—the $87 billion, 209,000-employee giant that occupies the No. 3 spot on Fortune’s Change the World list this year. Their work is part of BofA’s $125 billion Environmental Business Initiative, a campaign that has established the Charlotte based bank as a powerhouse in “climate finance”—the unglamorous but essential business of steering investor capital into the low-carbon economy. Green bonds, which the bank all but invented, have raised $442 billion worldwide since 2013, helping borrowers both tiny (the Antioch, Calif., Unified School District) and enormous (trillion-dollar Apple) pay for renewable-energy innovations. Read more here.
- Video: How Bank of America Financed a Green Energy Boom
- Applauding the Changemakers Behind Fortune’s Change the World List
Now in its fourth year, the Fortune Change the World list celebrates the
changemakers—those pioneering business leaders who look at social issues material to their long-term success and say, “We can do things differently.” They’ve embarked on a strategic shift towards shared value, a smarter business model that reimagines the way companies build new markets, innovate, create distinction, and contribute to a thriving society and planet.