Bank of America Achieves Carbon Neutrality
January 21 2020 - 5:29AM
Business Wire
Meets Goal Year Early to Become Carbon Neutral
for Its Operations
Bank of America announced today that it has met its carbon
neutrality goal a year ahead of schedule, pending third-party
verification. The goal was accomplished by reducing Scope 1 and 2
emissions from its facilities, purchasing 100 percent renewable
electricity and buying carbon offsets for its remaining unavoidable
emissions.
“We are delivering responsible growth by focusing on serving our
clients, investing in our teammates, supporting the communities
where we operate – AND by addressing important societal
priorities,” said Brian Moynihan, CEO of Bank of America. “Being
carbon neutral is core to our $300 billion, 10-year environmental
business initiative that is helping finance the transition to a
low-carbon future.”
As part of Bank of America’s long-term commitment to lessen the
environmental impact of its operations, the company has completed
the following activities:
- Reduced emissions by more than 50 percent in its facilities
since 2010.
- Met its 100 percent renewable electricity goal by:
- Installing on-site solar capability at many of its facilities,
including office locations and financial centers, and on ATMs.
- Completing multiple long-term renewable agreements which will
add new wind and solar electricity to the grid.
- Purchasing Renewable Energy Credits (RECs).
- Purchased a limited amount of carbon offsets from four
nonprofit projects located in impoverished areas across the U.S.,
South America, Africa, and Asia, which are helping to preserve
biodiversity and drive reforestation, while furthering economic
mobility for the local populations.
Bank of America At Bank of America, we’re guided by a common
purpose to help make financial lives better, through the power of
every connection. We’re delivering on this through responsible
growth with a focus on our environmental, social and governance
(ESG) leadership. ESG is embedded across our eight lines of
business and reflects how we help fuel the global economy, build
trust and credibility, and represent a company that people want to
work for, invest in and do business with. It’s demonstrated in the
inclusive and supportive workplace we create for our employees, the
responsible products and services we offer our clients, and the
impact we make around the world in helping local economies thrive.
An important part of this work is forming strong partnerships with
nonprofits and advocacy groups, such as community, consumer and
environmental organizations, to bring together our collective
networks and expertise to achieve greater impact. Learn more at
about.bankofamerica.com, and connect with us on Twitter
(@BofA_News).
For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America newsroom
and register for news email alerts.
www.bankofamerica.com
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version on businesswire.com: https://www.businesswire.com/news/home/20200121005513/en/
Reporters May Contact: Kelly Sapp, Bank of America,
1.980.214.3070 or 1.980.386.9514 kelly.e.sapp@bofa.com
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