During its shareholder meeting the bank said that it would reduce its lending to coal extraction companies along with broader mining companies with coal division.
Bank of America said: "The bank is committed to increasing our support of energy efficiency, renewable energy, and other low-carbon energy sources through our lending, investments, products and services, and operations."
The announcement comes in the wake of fossil fuel divestment movement where environmental groups have been putting pressure on large asset owners, universities, churches to divest interest in high-carbon energy projects.
Reuters cited Bank of America corporate social responsibility head Andrew Plepler said: "Our new policy reflects our decision to continue to reduce our credit exposure over time to the coal mining sector globally."
