Our supplier relations

Vendor management

Mutually beneficial supplier relationships

We encourage our suppliers to operate in ways that promote beneficial social and environmental outcomes. For our part, we pledge to treat our suppliers with respect, provide development opportunities and work as long-term partners.

Our Supply Chain team is responsible for the procurement of products and services for use by Bank of America and our affiliates and is driven by our Vendor Code of Conduct and our Human Rights Statement. Our focus and support includes:

  • Fairness: We seek to have competitive procurement activities and bid processes that foster equal opportunity so that qualified companies can provide products and services that meet our requirements.
  • Local Sourcing: We are committed to the growth and development of communities in which we do business. Where possible, we work with our supplier base to support local economies.
  • Diversity: We aim to source from diverse suppliers, which include businesses owned by individuals who are minority, women, veteran, disabled, service-disabled veteran, LGBT+ and other diverse-owned suppliers.
  • Environment: We survey about 200 of our suppliers annually through CDP to assess their environmental practices and performance.

Delivering on our goals

We support the development of certified diverse-owned suppliers through scholarships awarded by the Bank of America Diverse Business Scholarship Program.

We continue to enhance the social and environmental performance of our 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 greenhouse gas emissions.

Supplier diversity

We support the growth of diverse businesses through our Supplier Diversity program, which develops relationships with vendors owned by minority, women, veteran, disabled, service-disabled veteran, LGBT and other diverse-owned suppliers. Through strategic collaborations, we include diverse suppliers in our procurement practices, which in 2018 resulted in $1.87 billion of diverse procurement spending.

In 2014, Bank of America became the first Financial Services Institution to be inducted into the Billion Dollar Roundtable, a nationally recognized organization created to celebrate corporations that spend at least $1 billion with diverse-owned suppliers.  In 2015, our Supplier Diversity programs marked a 25-year milestone of supporting minority, women, veteran, disabled, service-disabled veteran, LGBT+ and other diverse-owned suppliers. And in 2018, Bank of America won a Corporation of the Year — Financial Award from the National Minority Supplier Development Council (NMSDC), and was awarded the Platinum Top Corporation Award from the Women’s Business Enterprise National Council (WBENC) and was named Corporation of the Year by the National LGBT Chamber of Commerce (NGLCC). We were also recognized as a Top 50 Company for Supplier Diversity by Black Enterprise Magazine in 2017. Our continuing commitment to supplier diversity initiatives includes:

  • Awarding capacity building scholarships for executive education and entrepreneurial programs to help diverse business owners take their businesses to the next level;
  • Encouraging participation in our Supplier Diversity and Development Mentoring Program – a high-touch mentor program that is customized for each participating diverse supplier to drive optimum developmental impact; and
  • Through Supplier Diversity and Responsible Sourcing and Small Business Banking, deliver Access to Capital training to small and diverse businesses to assist with their growth and capacity building, and to create local economic impact.

We are well-positioned and committed to investing in diverse businesses to drive sustainable growth and create shared success. When diverse suppliers achieve success, the diverse communities we serve experience tangible and sustained economic benefits. Our approach, of committing to spend Bank of America procurement dollars with diverse businesses while simultaneously investing in their continued development, gives rise to a meaningful, long-term impact.

Suppliers and environmental impact

CDP Supply Chain Program
Bank of America is committed to embedding ESG values across our eight lines of business and within our supply chain. One way we approach this is through the annual CDP supply chain questionnaire, which helps us understand climate change impacts and associated risks related to our global supply chain. CDP is an international nonprofit that motivates companies to report their environmental management activities. The organization provides decision-makers with the data and insights needed to drive market behavior, manage risk, capitalize on opportunities. Our work with the CDP supply chain questionnaire is an extension of Bank of America’s Vendor Code of Conduct. As a founding member of the CDP supply chain program, we have invited suppliers to respond to the CDP supply chain survey since 2009.

In 2018, we requested disclosures from 202 suppliers and achieved a best-in-class response rate of 90 percent with 80 percent of these responding vendors reporting their greenhouse gas emissions. Each year, we provide individualized feedback regarding each supplier’s level of transparency and performance to the participating suppliers and their vendor managers. This has facilitated an ongoing dialogue with our suppliers, which promotes collaboration and provides a meaningful opportunity to recognize leadership among our highest-performing suppliers.

We are proud to report that in 2018, 64 percent of our supplier respondents have greenhouse gas emissions reduction goals or renewable energy procurement goals.

The CDP supply chain questionnaire also allows our suppliers to communicate proposals to reduce our environmental impact. In 2018, 42 suppliers proposed ways to collaborate with us on environmental projects.

Seventeen suppliers that we invited to respond to the CDP supply chain questionnaire are on the 2018 Supplier Climate A List, a ranking based on their survey responses and demonstration of strong and transparent climate strategies and emissions reduction programs.

View our CDP responses in the Report Center.


In addition to engaging our own supply base in CDP, we’ve continued to integrate environmental sustainability criteria into our supplier sourcing processes by providing our sourcing managers specific questions regarding supplier sustainability practices and scoring criteria. The result has been an increased incorporation of sustainability criteria into requests for proposals and requests for information from our suppliers. Since 2014, we have used sustainability questions in our sourcing processes to better reflect desired environmental criteria of goods and services purchased by Bank of America. In addition, our contract templates contain representations and warranties to ensure that our suppliers use environmentally beneficial practices relevant to and meeting the minimum standards of their particular industry.

Our Vendor Code of Conduct outlines the expectations we set for our suppliers to demonstrate their commitment to basic working conditions and ethical business practices. In addition, the Modern Slavery Act Statement sets forth the steps we take to guard against modern slavery and human trafficking from taking place from within the company's supply chain.

To get started, go to Supplier Registration. To learn more, go to the Supplier Relations Webpage.

Open Location
Open How we're involved
Diversity & inclusion