U.S. Environmental Protection Agency Recognizes Bank of America for Climate Change Leadership
February 24 2015 - 3:34PM
Business Wire
First Financial Institution to Receive
Organizational Leadership Award; Addresses Accomplishments Across
the Company
The U.S. Environmental Protection Agency (EPA) has recognized
Bank of America for exceptional leadership in response to climate
change. The announcement was made today at the EPA 2015 Climate
Change Leadership Awards.
The bank received the award for Organizational Leadership, which
recognizes companies for their commitment to reduce greenhouse gas
(GHG) emissions while demonstrating leadership in their business
strategies to reduce carbon pollution. This is the first time that
a financial institution has received the prestigious EPA award in
this category.
The EPA, in collaboration with The Climate Registry (The
Registry), the Center for Climate and Energy Solutions (C2ES), and
the Association of Climate Change Officers (ACCO), presented the
award today at the annual Climate Leadership Conference in
Washington, D.C., now in its fourth year.
“We continue to focus on finding innovative ways to invest in
clean energy in every part of our business, ranging from creating
investment and financing opportunities to public-private
partnerships and reducing our own operational impacts,” said Purna
Saggurti, chairman of Global Corporate and Investment Banking at
Bank of America Merrill Lynch, who accepted the award. “It’s an
honor to be recognized by these organizations, which share our
commitment to addressing the critical challenges that we face as a
result of a changing climate.”
In its recognition, the EPA noted the bank’s accomplishments,
including:
- Supporting a lower-carbon economy
through a $70 billion commitment to financing energy efficiency
projects, renewable energy, and other low-carbon initiatives.
- Leading the industry in green bond
issuance to fund energy efficiency and renewable energies globally,
while working extensively with financial institutions and
environmental groups to establish Green Bond Principles.
- Creating a Catalytic Finance Initiative
to broaden institutional investment into green energy while
reducing risk.
- Setting a companywide GHG reduction
goal of 15 percent from 2010 levels, while educating employees and
vendors on their role to reduce energy consumption.
Although this marks the first time that a financial services
institution received the EPA’s Organizational Leadership Award, it
represents the second time Bank of America received an EPA Climate
Leadership Award; in 2013, the bank was recognized with an
“Excellence in Greenhouse Gas Management” award for setting its
greenhouse gas reduction goal.
“I am proud to recognize Bank of America and all of our Climate
Leadership Award winners for their actions to reduce the harmful
carbon pollution that’s fueling climate change,” said EPA
Administrator Gina McCarthy. “Our winners are providing the
leadership, commitment, and solutions needed to cut greenhouse gas
emissions and meet the challenge of a changing climate head
on.”
In addition to the EPA award, Bank of America also has been
recognized by the CDP S&P 500 Climate Change Leadership Indices
and Dow Jones Sustainability North America Index. Read more about
the bank’s environmental sustainability recognition.
Bank of America’s $70 billion multi-year environmental business
commitmentSince 2007, Bank of America has dedicated $39 billion to
low-carbon and other environmental business activities. In June
2012, Bank of America announced a 10-year, $50 billion
environmental business goal to advance lower-carbon economic
solutions through lending, equipment finance, capital markets and
advisory activities, carbon finance and investment advice and
solutions for clients around the world. The $50 billion commitment
followed an initial $20 billion multi-year environmental business
commitment announced in 2007 that the company achieved four years
ahead of schedule.
Read more about Bank of America’s commitment to the
environment.
Bank of AmericaBank of America is one of the world's largest
financial institutions, serving individual consumers, small- and
middle-market businesses and large corporations with a full range
of banking, investing, asset management and other financial and
risk management products and services. The company provides
unmatched convenience in the United States, serving approximately
48 million consumer and small business relationships with
approximately 4,800 retail banking offices and approximately 15,800
ATMs and award-winning online banking with 31 million active users
and approximately 17 million mobile users. Bank of America is among
the world's leading wealth management companies and is a global
leader in corporate and investment banking and trading across a
broad range of asset classes, serving corporations, governments,
institutions and individuals around the world. Bank of America
offers industry-leading support to approximately 3 million small
business owners through a suite of innovative, easy-to-use online
products and services. The company serves clients through
operations in more than 40 countries. Bank of America Corporation
stock (NYSE: BAC) is listed on the New York Stock Exchange.
Visit the Bank of America newsroom for more Bank of America
news.
www.bankofamerica.com
Reporters May Contact:Laura W. Hunter, Bank of America,
1.704.577.1164laura.w.hunter@bankofamerica.com
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