Bank of America Commits 5 Billion to Low Carbon Business Activities
Bank and Finances

Bank of America Commits $445 Billion to Low Carbon Business Activities

agosto 20, 2020
Press Room Team
  • The company’s cumulative $445 billion (2007─2030) Environmental Business Initiative demonstrates its commitment to the environment and support of sustainable, low-carbon businesses through lending, investing, capital raising, advisory services, and financing solutions for clients around the world.
    • Since 2007, Bank of America has directed more than $158 billion in financing for low-carbon, sustainable business activities.
    • Over the next 10 years (2020─2030), it will deploy an additional $300 billion to sustainable business activities.
  • In 2019, Bank of America achieved carbon neutrality for Scope 1 & 2 emissions. In its operations, the company has committed to the following by the end of 2020:
    • Utilize 100% of electricity from renewable sources.
    • Reduce location-based greenhouse gas (GHG) emissions by 50%.
    • Reduce energy use by 40%.
    • Reduce water use by 45%.
    • Reduce waste to landfill by 35% (baseline 2011).
    • Dispose 100% of e-waste using certified responsible vendors.
    • Maintain paper reduction  by 30%.
    • Maintain an average of 10% recycled content in paper purchased.
    • Purchase 100% of paper from certified sources.
    • Maintain a 90% response rate to its CDP supply chain requests.
    • Increase the number of its CDP supply chain responding vendors that report GHG emissions to 90%.
    • Maintain LEED certification in 20% of the company’s owned and leased space. Bank of America has achieved LEED certification in more than 200 financial centers. The company currently has nearly 19 million square feet of LEED-certified workspace and 352 LEED certifications, which include whole buildings and/or floor levels. The company’s first LEED certification was in 2007.

 Investments

  • Bank of America has financed more than $158 billion in low carbon, sustainable businesses since 2007 as part of its broader Environmental Business Initiative.
  • Bank of America’s Blended Finance Catalyst Pool provides $60 million in capital—and the opportunity to stimulate additional private capital—to finance and help advance the United Nation Sustainable Development Goals in emerging and developing markets. The initiative focuses on affordable and clean energy (SDG7), sustainable cities and communities (SDG11), clean water and sanitation (SDG6), and climate action (SDG13). It aims to support economic growth and result in more sustainable jobs, development, and projects as well as stimulate innovation.
  • The company has been the top tax equity investor in the U.S. since 2015. Bank of America’s portfolio at the end of 2019 holds approximately $9.4 billion of renewable energy tax equity projects supporting wind and solar facilities.

Innovations

  • Bank of America has led the industry in corporate green bond issuance ($6.35 billion since 2013) to fund energy efficiency and renewable energies globally, while working extensively with financial institutions to establish the Green Bond Principles.

For more information, visit www.bankofamerica.com/environment