: Bank of America Chief Brian Moynihan doubles down on environmental goals, saying it’s what customers and the private sector want

by | Nov 8, 2023 | Stock Market

Bank of America Corp. Chief Executive Brian Moynihan doubled down on the bank’s net-zero-emissions efforts despite pushback in the political arena. Moynihan said that the bank is doing what’s right for its company and its customers, and that the effort by banks to address climate change has been drawing strong support from clients.

“The private sector is deep into this and driving it,” Moynihan said during an interview on stage at the Reuters Next conference on Wednesday. Bank of America
and the financial industry in general have also drawn criticism from the political left for financing oil and gas development, he noted. Moynihan joked that he must be doing something right if both sides are upset with him. The bank remains committed to its part in the Net Zero Banking Alliance, a United Nations-backed effort to finance development of renewable energy, Moynihan said. Meanwhile, Kentucky State Treasurer Allison Ball was elected state auditor of public accounts on Tuesday. Early in 2023, she authored a letter to BlackRock Inc.
JPMorgan Chase & Co.
and Citigroup Inc.
saying those companies would face divestment of state investments for their “boycott” of energy companies. In Texa …

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