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Article

6 Mar 2007

Author:
Alana Samuels, Los Angeles Times

Bank of America's money is getting greener

In what could be the largest environmentally friendly corporate project in history, Bank of America Corp. will unveil a $20-billion initiative today. The aim of the plan is shrink energy use and deploy new technologies to reduce emission of the greenhouse gases... Over the next decade, Bank of America will earmark funds to lend to companies interested in creating green services or constructing energy-frugal office buildings. The...bank also...will offer lower mortgage rates on energy-efficient homes... Daniel Esty, a Yale University environmental law professor...[said] Bank of America's pledge will be impressive...if in 10 years it can point to environmentally responsible buildings or products it has helped finance... [also refers to environmental initiatives & commitments by Goldman Sachs, JPMorgan Chase, Citigroup, Wal-Mart, General Electric]