In 2011 and 2012, we announced operational goals we plan to achieve by 2015.
reduction in energy consumption from 2004.
reduction in paper consumption (2010 baseline); paper used will:
- Contain an average of 20% post-consumer, recycled content.
- Be sourced entirely from certified forests.
reduction in global water consumption (2010 baseline).
diversion of global waste from landfill.
electronic waste streams to be disposed of using certified, responsible vendors.
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.
Environmental Management System (EMS)
Bank of America employs an EMS that is well recognized as best-in-class for financial services and service-sector companies in general. Our EMS helps us to identify, manage and mitigate environmental risk and improve environmental performance across our corporate real estate portfolio. The foundation of the EMS is the bank’s stringent environmental policy that ensures a commitment to:
- Compliance with applicable environmental laws and regulations
- Pollution prevention and environmentally sustainable practices
- Continuous improvement in all areas of environmental management
Our EMS includes detailed protocols that comprehensively address compliance across all environmental media. The EMS covers all key areas including roles and responsibilities, training, inspections, inventory procedures, formal targets, documentation, measurement, complaint response and emergency procedures.
A core component of the EMS is an online tool for bank employees and partners. This tool provides the unique ability to understand and manage environmental compliance across the bank's significant real estate footprint—roughly 8,500 buildings and 110 million square feet.
- A centralized repository for environmental compliance and sustainability data for the entire real estate portfolio
- Real-time, remote data access
- Tracking of required actions and updates and a calendar
- Automatic e-mail notification of required actions
- Easy-to-read dashboard reporting
Greenhouse gas reductions
We have an ambitious goal to reduce our absolute greenhouse gas emissions by 15% by the end of 2015. This goal spans all of our global operations in more than 35 countries and builds on our previous GHG reduction of 18% from 2004-2009.
Our current target represents an overall global reduction in aggregate GHG emissions of more than 30% from our 2004 baseline. This is equal to eliminating the annual GHG emissions from more than 124,000 passenger vehicles.
To further advance our GHG reduction goals, we announced that 20% of our corporate real estate portfolio will be certified under the U.S. Green Building Council’s LEED® (Leadership in Energy and Environmental Design) rating system by the end of 2015. By the end of 2014, 19% of Bank of America’s workplace portfolio (more than 17.5 million square feet) is comprised of LEED-ceritifed space.
Other environmental goals
In 2012, Bank of America also announced operational goals it plans to achieve by the end of 2015:
- 25 percent reduction in energy consumption from 2004 – equal to eliminating 1.2 million megawatt hours of annual energy use from our portfolio.
- 20 percent reduction in paper consumption (2010 baseline). Paper used by the bank will average 20 percent post-consumer recycled content and will be sourced entirely from certified forests.
- 20 percent reduction in global water consumption (2010 baseline).
- 70 percent diversion of global waste from landfill. All electronic waste streams will be disposed of using certified, responsible vendors.
- 30 percent aggregate reduction in global GHG emissions (2004 baseline).
- 20 percent LEED certification within our corporate workplace portfolio.
Supply chain management
"Since 2009, we’ve invited vendors to respond to the CDP Supply Chain Survey, which helps us accurately track and measure greenhouse gas emissions and associated risks that impact our global supply chain. In 2014, we requested disclosures from 192 vendors – an increase of 19 vendors over last year – and despite the expansion in the number of survey respondents, we achieved a best-in-class response rate of 91 percent, up from 88 percent in 2012 and 90 percent in 2013. In the wake of the survey, we provided individualized feedback regarding each vendor’s level of transparency and performance to the participating vendors and their vendor managers. This has facilitated ongoing dialogue between us and our vendors which promotes collaboration and provides a meaningful opportunity to recognize leadership among our highest-performing vendors.”
In addition to engaging our supply base via CDP, we have integrated environmental sustainability criteria into our supplier sourcing processes. Sourcing managers are provided with sample sustainability questions and scoring criteria for RFPs and RFIs.