Bank of America has announced plans to achieve net zero greenhouse gas emissions in its operations by 2030.
Bank of America achieved carbon neutrality in its operations in 2019 and increased the number of vendors that measure and publicly report GHG emissions through the CDP Supply Chain survey. Bank of America has now established the next set of targets for its operations and supply chain to be achieved by 2030:
Maintain carbon neutrality for operations (Scope 1 and 2).
Purchase 100% zero carbon electricity.
Reduce location-based GHG emissions by 75% (Scope 1 and 2).
Reduce energy use by 55%.
Reduce potable water use by 55%.
Manage facilities responsibly and achieve LEED® certification (or comparable) for 40% of building space.
Responsibly manage waste to reduce amount sent to landfill.
Divert 75% of construction and demolition waste from the landfill.
Dispose 100% of electronic waste using certified responsible vendors.
Ensure 70% of global vendors, by spend, set GHG emissions reduction or renewable energy targets.
Assess 90% of global vendors, by spend, for ESG risks as outlined by the company’s Vendor Code of Conduct.
Continue to reduce paper use and purchase 100% of paper from certified sources.
Deploying Capital to Low-Carbon, Sustainable Business Activities
“By outlining the steps Bank of America is taking to achieve net zero emissions, the company is accelerating the ambitions laid forth in the Paris Climate Agreement,” said Ceres CEO and President Mindy Lubber. “As a global financial institution, Bank of America has unique influence and reach to help achieve those goals. We appreciate Bank of America’s commitment to set ambitious 2030 targets and look forward to more details in the future, including how it will work with clients to deliver on its commitment.”