Local impact. Global momentum.
Our 2011 Corporate Social Responsibility Report
Bank of America released its second annual Corporate Social Responsibility (CSR) report to provide an overview of the social and environmental impacts of its business operations and efforts to create value for shareholders, customers and clients, and communities the company serves globally. The report highlights the company’s efforts to promote fairness and transparency in its products and services; lending and investing activities in low-income and underserved communities; philanthropic investments to address immediate and long-term community needs; and company and customer-focused environmental initiatives.
SPECIFIC RESULTS HIGHLIGHTED IN THE REPORT INCLUDE:
- Substantially improving the company’s funding position by increasing capital, including selling non-core assets, strengthening credit reserves, increasing liquidity and reducing debt.
- Helping more than 693,000 homeowners purchase a home or refinance an existing mortgage with $151.8 billion in residential first mortgages, including more than 237,000 to low-and moderate-income borrowers.
- Raising $644 billion in capital for clients to help support economic expansion.
- Originating more than $6.4 billion in new small business loans and commitments, and hiring more than 500 new small business bankers.
- Financing two of the largest distributed rooftop solar projects in history to support a transition to cleaner, sustainable energy sources.
- Integrating risk management with strategic, financial and customer-client planning to align with goals and responsibilities across the company.
- Partnering with the Asia Society's Asia 21 Young Leaders Initiative to bring together exceptional Asian leaders of tomorrow to address some of the region's most pressing challenges.
- Investing more than $1.6 billion to help create more than 11,000 affordable housing units for families, seniors, veterans and people with special needs.
- Providing more than $200 million in corporate philanthropy to address pressing issues such as affordable housing, financial education, disaster relief and more.
- Building its leadership position in promoting volunteerism and service, with employees donating 1.5 million hours of volunteer service in 2011, a 15 percent increase from 2010.
- Creating a Military Advisory Group to better coordinate programs across the company focused on supporting active military and veterans.
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