Bank of America cooks up a storm

Bank of America is to partner with the Global Alliance for Clean Cookstoves (GACC) to raise $100m to help provide clean cooking solutions to millions of households in the developing world.

Advancing clean cooking solutions – which greatly reduce emissions that are harmful to people’s health and the broader environment – is a component of the bank’s recently launched Catalytic Finance Initiative.

Bank of America announced the new initiative at the United Nations Climate Summit in September, committing to catalyze at least $10 billion of capital toward investments in renewable energy, energy efficiency and energy access.