Bank of America

The Bank of America (BofA) Charitable Foundation and TNC have worked together for decades to advance market-based solutions to the twin climate and biodiversity crises. We have shown that with the right science, relationships, and policy, we can achieve large-scale conservation with innovative financing structures.

To date, TNC’s collaboration with the Bank of America Charitable Foundation has generated several innovative market-based conservation and climate solutions. Together, we helped establish the processes and technical capacity to most effectively and equitably deploy $50 million in conservation funding from the Barbados Blue Bond transaction. The Foundation backed TNC’s work to develop and launch a reef insurance product aimed at rebuilding coral reefs after storms. That model was then deployed and scaled with support from BofA, leading to the launch of the world’s first reef insurance product in Mexico before it was expanded more broadly across the Mesoamerican Reef and later in Hawai‘i, marking the launch of the first such insurance policy in the U.S.

Further support from the Foundation includes TNC’s Resilient Islands initiative in the Caribbean, which helps vulnerable coastal communities—and the mangroves and reefs that protect them from flooding—remain healthy and resilient in the face of increasingly severe storms.