Our commitment to environmental sustainability

Bank of America is committed to improving the environment in how we approach our global business strategy, work with partners, make our operations more sustainable, support our employees, manage risks and govern our activities.

Building on our longstanding support for the Paris Climate Agreement, we have a goal to achieve net zero greenhouse gas (GHG) emissions in our financing activities, operations and supply chain before 2050.

Our Environmental Business Initiative will deploy and mobilize $1 trillion by 2030 to accelerate the transition to a low-carbon, sustainable economy, as part of a broader $1.5 trillion sustainable finance goal aligned to addressing the United Nation’s Sustainable Development Goals (SDGs). Our multi-year financing commitment provides financial capital, along with significant intellectual capital, to develop solutions to climate change and other environmental challenges. It focuses on low-carbon energy, energy efficiency, and sustainable transportation, in addition to addressing other important areas like water conservation, land use and waste.

We also are making our operations more sustainable – including achieving carbon neutrality and procuring 100% renewable electricity in 2019, a year ahead of schedule. We offer programs and benefits that help employees become better environmental stewards.

Importantly, we are committed to managing environmental and social risk, as well as providing industry-leading disclosures on our progress. For details, read our Environmental and Social Risk Policy Framework, newly released Task Force on Climate-related Financial Disclosures Report, and ESG Data Performance Summary, which aligns to G4 guidelines under the Global Reporting Initiative standards.

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Business & partners

Since 2007, we have invested more than $200 billion in financing low-carbon and sustainable business activities across the globe through our Environmental Business Initiative. For years, our financing commitment has focused on providing capital that supports innovative solutions to climate change and other environmental challenges. Over the next ten years (2020-2030), we have committed an additional $1 trillion to help advance these efforts and to work toward achieving the United Nation’s Sustainable Development Goals (SDGs).

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Operations & employees

As a large, global company, we understand the impact our operations have on the environment and the potential we have to make a difference. Our scale lets us take measurable action to reduce our impacts by operating with greater efficiency, by employing new technologies and by influencing our supply chain.

Our employees also play a key role in reducing our environmental impact. We empower them to make a difference through our My Environment® program, employee reimbursement programs and environmentally focused volunteer events.

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Governance & policies

Our serious commitment to environmental activities starts at the top, with leadership that ensures strong governance and reporting. We set industry-leading business and operational goals, partnering across our lines of business to identify and advance solutions. We also have robust risk management of environmental issues related to our clients.

To give our investors, clients and communities a complete, transparent view of our approach to environmental and social risks, we have a dedicated Environmental and Social Risk Policy Framework. That framework sets out how we identify, measure, monitor and control these risks as part of our company’s risk framework.