Environmental sustainability

Our commitment to environmental sustainability

$125 billion, committed by 2025 to low-carbon financing and sustainable business activities At Bank of America, we are committed to improving the environment in how we approach our global business strategy, work with partners, support our employees, make our operations more sustainable, manage issues and govern our activities. Since 2007, we have provided more than $70 billion in financing for low-carbon and sustainable business activities. As part of our second commitment established in 2012, and increased in 2015, we will provide $125 billion in capital, along with significant intellectual capital, to develop solutions to climate change and other environmental challenges. We rigorously manage environmental and social risks across our enterprise and have established an Environmental and Social Risk Policy Framework to provide transparency into those policies and processes. To learn more about our environmental commitment and how we are working across the globe to transition to a low-carbon, sustainable economy, read our ESG Executive Summary and recent press releases on our environmental initiatives. You may also find of interest a recent report detailing how our environmental business commitment is making a positive impact on the U.S. economy. The report is “Banking on a Low-Carbon Economy: The Economic Impacts of Bank of America’s $125 Billion Environmental Business Initiative”.

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.

Learn more about our environmental operations.

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.

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To view specific data on our progress in 2016 around our environmental operations goals, please see pages 1-3 in the ESG Performance Data PDF.

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 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 GHG emissions. Learn more about vendor management.

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 approximately 20,000 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 reimbursement program for eligible employees, we also offer employees discounts on solar panel installation and car sharing through established partnerships.

my environment employee program
My Environment® employee program celebrated five years in 2015 and continue to volunteer in local communities.

Our employees make the difference

  • 20,000 My Environment® employee members across the globe in 31 countries
  • 5,400 employees ate Waste Less lunches at 120+ Waste Less lunch events
  • 1,000 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)