Bank of America is Seeing Green
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B of A's new credit card will do more than just get you into trouble at Whole Foods; like those offered by MBNA and other companies, it will donate a portion of every dollar spent to reducing greenhouse gases. The card is just one of a slew of environmentally-progressive initiatives announced by the lending and banking giant yesterday. B of A consumers will soon be able to donate their WorldPoints rewards to green organizations, or cash them in for 'environmentally friendly merchandise'? Prospective home-owners will get reduced interest rates for ENERGY STAR approved houses, and small to mid-size trucking companies will get no-collateral loans to help them afford fuel-efficient solutions.
Overall, B of A will devote $20 billion (about the GDP of Lebanon) over 10 years to environmentally friendly incentives, including real estate investment, corporate lending, investment banking and market creation. Bank of America Corp. is just one of several financial biggies incorporating environmental awareness into their public relations campaign. Now if only the government would do more of the same!