Bank of America has committed £1.2 million to the University of Oxford, aimed at advancing greenhouse gas removal and sustainable finance research at the Smith School of Enterprise and the Environment.
This funding, marking Bank of America’s inaugural contribution in Europe, will sustain three years of collaborative research involving two teams. They will explore the incorporation of nature-related factors and climate data into financial decision-making while identifying avenues for greenhouse gas removal.
One research team will operate from the Greenhouse Gas Removal Hub (CO₂RE), focusing on economically, socially, and environmentally sustainable methods to extract greenhouse gases from the atmosphere. Meanwhile, the second team will work within the Oxford Sustainable Finance Group at the Smith School and the UK Centre for Greening Finance and Investment (CGFI), emphasizing spatial finance and the inclusion of nature-related insights in financial strategies.
To date, the Smith School has collaborated with 20 governments globally on green recovery initiatives, with its research informing international financial institutions.
Bernard Mensah, Bank of America’s president of international operations, stated, “Successful collaborations between business, academia, and governments are essential for accelerating the transition to sustainable energy solutions. With Bank of America’s support, the Oxford Smith School has the opportunity to significantly impact scalable carbon capture, greenhouse gas removal, and the integration of nature-based metrics into sustainable finance frameworks.”