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Bank of America is to partner with the Global Alliance for Clean Cookstoves (GACC) to raise $100m to help provide clean cooking solutions to millions of households in the developing world.
Advancing clean cooking solutions – which greatly reduce emissions that are harmful to people’s health and the broader environment – is a component of the bank’s recently launched Catalytic Finance Initiative.
Bank of America announced the new initiative at the United Nations Climate Summit in September, committing to catalyze at least $10 billion of capital toward investments in renewable energy, energy efficiency and energy access.
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