Global commitment to improving the environment at work and in our communities
As a large, global company, we understand the impact our operations have on the environment. But our scale also enables us to take measurable action to reduce these impacts – through our own efficiency, with new technologies, and by influencing our supply chain.
In addition, our employees have a key role to play in reducing our environmental impact, and we are empowering them to make a difference through our My Environment® program.
Reducing our own environmental impact
In 2016, we announced a suite of new operational goals to be met by 2020, including plans to become carbon-neutral and purchase 100% renewable electricity. These goals support our continued efforts to reduce overall environmental impacts of our operations. We will work to reduce location-based greenhouse gas emissions by 50%, energy use by 40% and water use by 45% in our operations across the globe from 2010 to 2020. These new commitments build on the success of the company’s 2015 operational goals. Read our press release which provides additional details.
Bank of America announced
operational goals from
2010 - 2020
Achieve Carbon Neutrality for Scope 1 and 2 emissions
Reduce energy by 40%
Purchase 100% of electricity from renewable resources
Reduce location-based GHG emissions by 50%
Maintain LEED certification in 20% of the company's owned and leased space
Reduce water use by 45%
Maintain paper reduction of 30%
Maintain an average of 10% recycled content in paper purchased
Purchase 100% of paper from certified sources
Reduce waste to landfill by 35% *Baseline 2011
Dispose 100% of e-waste using certified responsible vendors
Maintain 90% response rate to our CDP supply chain requests
Increase the number of our CDP supply chain responding vendors who report GHG emissions to 90%
From 2010 to 2015, we met or exceeded a number of previously set goals. This included reducing our greenhouse gas emissions by 37%, primarily by implementing energy-efficiency projects, consolidating space and taking advantage of a less carbon intensive grid.
Working with our suppliers
Since 2009, we have 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 2016, we requested disclosures from 196 suppliers and achieved a best-in-class response rate of 90 percent. 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.
Employees and the environment, making a positive difference
We created the My Environment® employee program to drive positive environmental change by helping employees act as better environmental stewards at work, at home and in the communities where they work and live. Today this program has more than 19,000 active employee members across 31 countries. Each year we offer a variety of programs for employees to participate in, such as expert webinars and discussion courses, “take action” programs like our annual Waste Less Lunch, and many volunteer opportunities.
We also provide employees benefits to encourage their adoption of new environment-friendly technologies and behaviors. For example, we encourage employees to purchase electric vehicles by reimbursing a portion of the cost of the electric vehicle or charger, and we recently joined the U.S. Department of Energy’s “Workplace Charging Challenge” through which participating companies commit to add charging stations for electric vehicles in their parking facilities. In addition to our low-carbon vehicle program for eligible employees, we also offer employees discounts on solar panel installation and ride sharing through established partnerships.
Our employees make the difference
- 19,000+ My Environment® employee members across the globe
- 4,100+ employees ate Waste Less lunches at 120+ Waste Less lunch events
2,000+ employees participated in Ocean Conservancy clean-up events, removing millions of pounds of debris from oceans, lakes and rivers around the world
3,200+ colleagues around the globe took part in our two-week EcoChallenge at home, saving 109,300 gallons of water (equivalent to five swimming pools); eliminating 10,769 disposable cups from landfills; stopping nearly 400 pounds of food waste from entering landfills; and replacing 1,245 inefficient bulbs (Note: Estimates tabulated by the Northwest Earth Institute)