Top Ranked Among U.S. Financial Institutions
Bank of America ranked second overall among the world's top financial institutions and was the highest ranked U.S.-based global financial company in the recently released Bloomberg Markets magazine's "Greenest Banks" report. This distinction adds to the growing list of global recognition Bank of America has received for the lending, investing and advisory services it provides under the company's 10-year, $20 billion environmental business initiative, as well as operational achievements.
The ranking, which can be found on Bloomberg, will also appear in the May issue of Bloomberg Markets magazine. The ranking measures financial institutions' efforts across renewable and low-carbon energy sectors, as well as each company's own operational impacts and sustainability efforts to reduce energy consumption. Highlighting Bank of America's performance were two landmark distributed solar power transactions in 2011.
Beyond the two noteworthy deals, which are expected to help create jobs and hundreds of megawatts of clean, renewable energy, Bank of America advanced its environmental business initiative - delivering more than $3.65 billion in lending, investing and advisory services in 2011. The company also announced a new 15 percent global greenhouse gas emission reduction goal by 2015, which combined with previous emissions reductions, will comprise a more than 30 percent reduction over 2004 levels.
"Our clients operate globally, and rewarding business opportunities are abundant in the new energy economy," said Brian Moynihan, chief executive officer, Bank of America. "Because we have set ambitious business objectives and strong sustainability goals of our own, we can help deliver value to clients."
Bloomberg assembled data for the "Greenest Banks" ranking from publicly available sources such as websites and regulatory filings. In all, Bloomberg ranked 48 global financial intuitions with market values of $10 billion or higher.
Bank of America's recent environmental efforts have also been recognized by the following organizations and publications:
- Carbon Disclosure Project - Top-ranked among financial services and fourth overall in Global 500 survey and first among financial services and second overall in their S&P 500 survey.
- Newsweek magazine - Ranked second among their Greenest Companies among large financial institutions.
- The Banker magazine - Awarded Most Innovative Investment Bank in Climate Change and Sustainability.
- Renewable Energy World - Received the Innovation in Finance Award - Project Amp.
- Climate Counts - Ranked first in commercial banking sector and eighth across all sectors.