The Bank of America Corporation is an American multinational investment bank and financial services company headquartered in Charlotte, North Carolina, with central hubs in New York City, London, Hong Kong, Minneapolis, and Toronto.

The Bank of America (BoA) Corporation announced that it has met its carbon neutrality goal a year ahead of schedule, pending third-party verification.

What Happened?

The goal was accomplished by reducing Scope 1 and 2 emissions from its facilities, purchasing 100 percent renewable electricity and buying carbon offsets for its remaining unavoidable emissions.

In the place of traditional fuel sources, BoA has installed on-site solar solutions for many of its sites, including on its ATMs, in its offices and in its financial centers.

Why It Matters

In addition, BoA signed a series of long-term renewable energy agreements that will boost wind and solar capacity for the US’s grid, along with purchasing Renewable Energy Credits (RECs) to offset its carbon output.

“Being carbon neutral is core to our $300 billion, 10-year environmental business initiative that is helping finance the transition to a low-carbon future,” said Brian Moynihan, CEO of Bank of America, in the firm’s announcement.

Derick Lila
Derick is a Clark University graduate—and Fulbright alumni with a Master's Degree in Environmental Science, and Policy. He has over a decade of solar industry research, marketing, and content strategy experience.

Ohio State Chemists collect energy from the entire visible spectrum of sunlight

Previous article

New report from SolarPowerRocks reveals and ranks the best states for residential solar in 2020

Next article

You may also like

1 Comment

  1. A first step but still funding FF projects

Comments are closed.

More in News