Bank of America pledges £1.2m to Oxford research teams tackling climate change

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Bank of America has pledged £1.2m to Oxford University to support research into greenhouse gas removal and sustainable finance at the Smith School of Enterprise and the Environment.

The funding, the first of its kind from Bank of America in Europe, will support three years of research by two teams studying the integration of nature-related factors and the use of climate and environmental data in financial decision-making, and identify greenhouse gas removal opportunities.

A team of researchers will be based at the Greenhouse Gas Removal Hub (CO₂RE), and will focus on removing greenhouse gases from the air in an economically, socially and environmentally scalable way.

The other research team will be based at both the Oxford Sustainable Finance Group at the Smith School and the UK Center for Greening Finance and Investment (CGFI). They will focus on space finance and the integration of nature-related factors into financial decision-making.

To date, the School has worked with 20 different governments around the world on their green recovery plans and its research directly informs global financial institutions around the world.

Bernard Mensah, International Chairman of Bank of America, said, “Successful partnerships between business, academia and government are essential if we are to accelerate the transition to sustainable, secure and affordable energy and move towards net zero. . With support from Bank of America, work at the Oxford Smith School now has the potential to transform scalable carbon capture and greenhouse gas removal, as well as the integration of nature-based measures into sustainable financing frameworks.

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