Renewed Support to Further Advance Strategies Supporting the Clean Energy Economy
Online PR News – 06-September-2012 – SAN JOSE, C.A. – The Bay Area Climate Collaborative (BACC) today announced a renewal of $50,000 in financial support and strategic guidance from anchor partner Bank of America to further accelerate market-oriented clean energy initiatives in high-impact domains such as energy efficient lighting, solar power and electrical vehicles (EVs).
Over the past three years, Bank of America has provided $175,000 in grants and sponsorships to the BACC in support of a wide range of work to advance clean energy innovations, including the establishment of the Bay Area EV Strategic Council, the cross-sector executive forum to drive regional action on plug-in EVs; the Bay Area Next Generation Streetlight Initiative, which is catalyzing the upgrade of 200,000 municipal streetlights for $50 million in savings to local governments and 100,000 tons of CO2 avoided over 5 years; the $5 million Local Government EV Fleet National Demonstration Project, deploying electric vehicles with 11 Bay Area municipal agencies for significant cost savings; and SunShares, a first-of-its-kind residential solar group-buy benefits program for companies lowering costs and complexity for consumers.
“Bank of America has made environmental consciousness a priority, not simply because it is the right thing to do but because it also makes solid financial sense,” said Gail Mohr, SVP Market Manager, Marketing and Corporate Affairs for Bank of America. “The Bay Area Climate Collaborative drives initiatives that are characterized by real impact, lowering costs and strengthening the local economy while reducing emissions. Our collaboration is a natural economic and environmental win-win.”
“Bank of America is a leader in deploying the power of human and financial capital to advance the clean energy economy,” said Rafael Reyes, Executive Director of the BACC. “In recognizing the connection between profitability and sustainability, Bank of America is enabling work that helps scale these vital clean energy markets and bolsters regional prosperity. They have supported the BACC since its inception, and we look forward to our continued partnership.”
Bank of America is the nation’s largest retail bank and, through its 10-year $50 billion environmental business initiative, is pursuing opportunities to support, finance and invest in the development of renewable energy and energy efficiency. The BACC is a public-private initiative of the Silicon Valley Leadership Group launched by regional civic and business leaders to accelerate the Bay Area clean energy economy through high-impact, market-oriented projects that can be replicated and scaled.
About the Bay Area Climate Collaborative
The Bay Area Climate Collaborative (BACC) is a public-private initiative accelerating the clean energy economy. Major partners include Bank of America, Pacific Gas & Electric, and local governments representing over 70 percent of the Bay Area population. The BACC is driving electric vehicle, energy efficiency, residential upgrades and distributed renewables innovation. For more information on the BACC, please visit: www.baclimate.org
About Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,750 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.