Demonstrating our commitment to the environment through our operations

We understand the impacts our operations have on the environment, especially in the areas of greenhouse gas emissions, water and paper consumption, waste generation and our extensive supply chain. But our scale and influence also allow us to take measurable action to reduce these impacts through our own efficiency and by influencing our supply chain.

Greenhouse Gas Emissions

In 2011, we set a goal to reduce our absolute GHG emissions by 15 percent from 2010 to 2015. During that time, we reduced global GHG emissions by 37 percent, more than double our goal. To expand on this commitment, in 2016, we set a goal to achieve carbon neutrality for Scope 1 and 2 emissions and purchase 100 percent renewable electricity by 2020, in addition to reducing our location-based GHG emissions by 50 percent and reduce energy use 40% from 2010 to 2020. These goals span our global operations in more than 35 countries and build on our previous GHG reduction of 18 percent from 2004 to 2009 in our U.S. portfolio.

We evaluated both our new carbon neutrality and 50 percent location-based GHG goals using the Intergovernmental Panel on Climate Change (IPCC) recommendations, the Sectoral Decarbonization Approach and the 3% Solution methodology. Our GHG goals are more aggressive than all three of these science-based target setting methodologies.

Since 2003, we have annually disclosed our GHG emissions and reduction strategies through the CDP climate change survey. In 2014 and 2015, we received a disclosure score of 100 for our reporting transparency and a performance score of A for our leadership in the field. 2015 was the sixth consecutive year CDP named Bank of America to the Climate Disclosure Leadership Index and the Climate A List.

Paper

From 2010 to 2015, we reduced our paper use by 28 percent, significantly exceeding our 20 percent goal. We increased the percent of paper purchased from certified sources from 93 percent in 2011 to 99 percent in 2015, falling just short of our 100 percent goal. In 2016, we set a goal to achieve and maintain a paper reduction of 30 percent by 2020. Additionally, we will continue to work toward our goal to purchase paper from 100 percent certified sources through 2020.

While we’ve moved to 30 percent post-consumer waste paper in most of our employee locations, our overall percentage of recycled content is still at nine percent – far below the goal of 20 percent we said we would meet by 2015. A majority of our paper consumption comes from printed materials for customers. Integrating recycled content paper into these production streams is complex and has proved extremely challenging. We are committed to maintaining an average of 10 percent recycled content in our paper through 2020 and will continue to look for ways to incorporate recycled content into the paper we use.

LEED

Leadership in Energy and Environmental Design (LEED) is a globally recognized standard identifying achievement in green building design, construction, and operations. We exceeded our goal to reach 20 percent LEED certified square footage in our workspace, by achieving 23 percent in 2015. In 2016, we set a goal to maintain at least 20 percent LEED certified square footage through 2020. We have nearly 19 million square feet of LEED certified workspace across all building types in our portfolio.

Water

As of 2015, we’ve reduced our annual global water usage by 34 percent. Additionally, we recycled and/ or reused more than 21 million gallons of water throughout our facilities in 2015. In 2016, we set a goal to reduce our water consumption 45 percent from 2010 to 2020. In 2014, we piloted drought-tolerant landscaping at six California financial centers. In 2015, this program saved more than $20,000 and 4.8 million gallons of water. We expect these changes to deliver savings going forward and we will continue to look for ways to incorporate water-saving landscaping at our financial centers.

Waste

Our goal was to achieve a 70 percent diversion rate by 2015. While our 64 percent diversion rate fell short of our goal, this is a significant improvement from our 54 percent diversion rate in 2011, and recycling of plastic, aluminum, and cardboard is now available in 61 percent of our global workspace. We continue to work diligently to reduce waste and increase waste diversion across our operations. In 2016, we set a goal to reduce the waste we send to landfill by 35 percent from 2010 to 2020.

We’re also working to reduce the impact of our electronic waste streams. In 2010, we became an e-Stewards® enterprise and in 2012, we committed to disposing all of our e-waste through certified, responsible disposal vendors by 2015. In 2015, we disposed of 98 percent of our e-waste using certified, responsible vendors, falling just short of our goal of 100 percent. We will continue to work toward meeting this goal by 2020.

Supply Chain Management

Since 2009, we’ve invited suppliers to respond to the CDP supply chain questionnaire, which helps us track greenhouse gas emissions and associated risks that impact our global supply chain. In 2015, we requested disclosures from 200 suppliers. We achieved a best-in-class response rate of 93 percent, up from 88 percent in 2012. In 2016, we set our first-ever goals to address greenhouse gas emissions in our supply chain with two vendor engagement goals: to maintain a response rate to CDP supply chain information requests of at least 90 percent, and for 90 percent of CDP supply chain responding vendors to disclose Scope 1 and 2 emissions.

We were named to the Supplier Climate A List for the quality of our own response to the survey in 2015, placing us among the top two percent of suppliers focused on the management of climate change and related issues.

Environmental Management System (EMS)

We employ an Environmental Management System (EMS) that relies on a comprehensive compliance database to help Real Estate Services Environmental Risk identify, manage, and mitigate risk, and improve performance across our corporate real estate portfolio. Our EMS covers all key areas, including roles and responsibilities, training, inspections, inventory procedures, formal targets, documentation, measurement, complaint response, and emergency procedures. Our strong record of compliance across our real estate portfolio is the result of our rigorous EMS. For more information please read our Environmental, Social and Governance report.

To learn more about our environmental operations goals, please read our recent Press Release about our 2020 goals.


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