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Bank of America Announces $40 Million for Youth and Strengthens ESG Focus

Bank of America Announces $40 Million for Youth and Strengthens ESG Focus

Tuesday, August 16, 2016

Funding Will Go Toward Skills Development Programs, First-Time Employment Opportunities and to Advance Diverse Hiring

Bank of America announced a $40 million commitment to connect 100,000 teens and young adults to the skills and employment experiences needed for 21st-century jobs. Over the next three years, in partnership with nonprofit organizations across the country, the bank will fund summer internships, education and job training, and support diverse talent to help build a pipeline that will strengthen and enhance tomorrow’s workforce.

"Investing in young adults to help provide them the opportunities they need to build their career skills makes a meaningful impact in their lives and the lives of our communities," said Brian Moynihan, chairman and CEO, Bank of America.

These initiatives build on the company’s long-standing support of youth and young adults, and takes into account research showing paid youth employment programs are key to keeping kids on track. This work is a demonstration of the bank’s strategy to advance sustainable and responsible growth. The company invests in young people as part of its broader commitment to connecting individuals to meaningful employment in order to build thriving economies. The commitment was announced in conjunction with Bank of America’s 2016 Student Leaders Summit, which brings community-minded high school students together to strengthen their skills and help them chart a path to success.

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Bank of America Strengthens Environmental, Social and Governance (ESG) Focus 

To further expand how Bank of America is creating long-term value across Environmental, Social and Governance (ESG) factors, today the company shares progress made to deliver on its purpose of helping make financial lives better for customers, clients and communities around the world. The Business Standards Report, first published earlier this year, plus the ESG Addendum, together detail how the company is delivering responsible, sustainable growth – making the business more efficient, helping employees realize their potential and helping local communities around the world address their biggest challenges.

“Our approach to ESG is about ensuring we are growing responsibly and making money the right way while creating shared success by investing those profits in the things that will collectively move us forward,” said Anne Finucane, vice chairman at Bank of America.

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