This week, Bank of America Corporation (BAC) announced a $2 billion bond deal called “Equality Progress Sustainability Bond” with funding that will help fight against income and social inequality in America’s Black and Hispanic communities. The Pension Boards has invested $6.6 million on behalf of its members.
This is the first bond issued by a U.S. corporation where proceeds will be directed to the financial empowerment of Black and Hispanic communities.
Proceeds of the bond deal will support:
The investment supports several of the United Nations Sustainable Development Goals (SDGs) and upholds the Pension Boards’ approach to sustainable investing on behalf of its members.