2012 Corporate Social Responsibility Highlights

Environmental sustainability

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In 2007, we announced a 10–year, $20 billion environmental business initiative to address climate change and demands on natural resources. In 2012, we exceeded this commitment four years ahead of plan, delivering more than $21.6 billion in all. Building on our initial goal and the enthusiasm of our stakeholders, we increased our target by $50 billion over 10 years. Effective in 2013, this brings our total environmental business initiative to $70 billion over the course of 16 years — the largest among our peers.

We continue to focus our environmental sustainability activities in four areas:

Transformational finance

In 2012, we committed more than $4.5 billion toward underwriting, advising on and financing a number of transactions that are expected to increase jobs by thousands and help our clients move closer to a lower-carbon economy. From harnessing wind energy in Illinois to financing an expansion of geothermal energy in Kenya, we are supporting the global transition to cleaner, more sustainable energy sources.

Operations

Reducing our emissions, and use of natural resources shrinks our environmental footprint, improves our efficiency and delivers value for our company and shareholders. In 2011 and 2012, we announced a series of ambitious goals to reduce our greenhouse gas (GHG) emissions and paper and water consumption, as well as to increase our diversion of waste from landfill and the percentage of our occupied space that is Leadership in Energy and Environmental Design (LEED) certified.

Employee programs

In 2012, more than 12,000 of our employees including more than 900 in India and 800 in the United Kingdom participated in our My Environment program, which empowers our employees to make a positive environmental impact on a global scale. Through our My Environment program, we promote positive change by engaging employees in specific environmental initiatives. This program enables employees to participate in educational and volunteer events, as well as programs that encourage employees to take a specific action to reduce their environmental impact. On Earth Day 2012, more than 1,100 of our My Environment ambassadors launched a global, eight-week paper challenge, delivering an overall reduction of nearly 10 percent for participants.

Philanthropy and nonprofit partnerships

In 2012, we committed more than $4.5 million in environmental philanthropy — investing in programs and partnerships that provide sustainable solutions to challenges facing communities around the world. We also engage with many stakeholders, including critics and supporters, on environmental issues.

BREAKDOWN OF OUR $21.6 BILLION ENVIRONMENTAL FINANCING THROUGH 2012
By Line of Business:

New operational targets

In 2011 and 2012, we announced new operational goals we plan to achieve by 2015.

25%

reduction in energy consumption from 2004 — equal to eliminating 1.2 million MWh of annual energy use from our portfolio.

20%

reduction in paper consumption (2010 baseline); paper used will:

- Contain an average of 20% post-consumer, recycled content.

- Be sourced entirely from certified forests.

20%

reduction in global water consumption (2010 baseline).

70%

diversion of global waste from landfill — all electronic waste streams to be disposed of using certified, responsible vendors.

15%

reduction in global GHG emissions (2010 baseline), equal to more than 30% aggregate reduction in emissions from 2004 to 2015.

This is a new goal for 2015, that builds on the May 2011 announcement.

20%

LEED certification within our corporate workplace portfolio.

This is a new goal for 2015, that builds on the May 2011 announcement.

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Support for overseas private investment corporation (OPIC)

Bank of America Merrill Lynch is one of the largest underwriters of renewable energy projects for the Overseas Private Investment Corporation (OPIC), the U.S. government's development finance institution.

In 2012, we provided more than $300 million in financing with OPIC for two solar projects in Peru. We also provided $220 million in financing for an OPIC project in Kenya, which aims to double the generating capacity of the Olkario Geothermal Plant, owned by Nevada-based Ormat Technologies. With this expansion the plant is expected to deliver at least five percent of Kenya's total power demand. Geothermal energy generation provides a clean, stable and cheap source of power for local industry and regions the plant serves.

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Pioneer trail wind farm

In 2012, Bank of America Merrill Lynch provided $150 million of institutional equity financing to E.ON Climate & Renewables North America in exchange for a partial interest in its Pioneer Trail Wind Farm. Located in Ford and Iroquois counties, Illinois, the project provides more than 150MW of energy — enough to supply clean power to more than 45,000 households. The project is expected to generate more than $29 million in local taxes, pay $8 million in local salaries and earn more than $50 million for local landowners.

Environment, social and governance council

In 2012, in response to increased interest in environmentally sustainable investments from our wealth management clients, we created an Environmental, Social and Governance (ESG) Council within our wealth management business. The council enables our financial advisors to deliver the best possible ESG solutions to our wealth management clients.

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