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BANK OF AMERICA CORPORATION

(BAC)
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Bank of America : Achieves Carbon Neutrality

01/21/2020 | 05:30am EDT

Meets Goal Year Early to Become Carbon Neutral for Its Operations

Bank of America announced today that it has met its carbon neutrality goal a year ahead of schedule, pending third-party verification. 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.

“We are delivering responsible growth by focusing on serving our clients, investing in our teammates, supporting the communities where we operate – AND by addressing important societal priorities,” said Brian Moynihan, CEO of Bank of America. “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.”

As part of Bank of America’s long-term commitment to lessen the environmental impact of its operations, the company has completed the following activities:

  • Reduced emissions by more than 50 percent in its facilities since 2010.
  • Met its 100 percent renewable electricity goal by:
    • Installing on-site solar capability at many of its facilities, including office locations and financial centers, and on ATMs.
    • Completing multiple long-term renewable agreements which will add new wind and solar electricity to the grid.
    • Purchasing Renewable Energy Credits (RECs).
  • Purchased a limited amount of carbon offsets from four nonprofit projects located in impoverished areas across the U.S., South America, Africa, and Asia, which are helping to preserve biodiversity and drive reforestation, while furthering economic mobility for the local populations.

Bank of America
At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News).

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

www.bankofamerica.com


© Business Wire 2020
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Financials (USD)
Sales 2021 87 578 M - -
Net income 2021 25 774 M - -
Net Debt 2021 - - -
P/E ratio 2021 13,9x
Yield 2021 1,78%
Capitalization 361 B 361 B -
Capi. / Sales 2021 4,13x
Capi. / Sales 2022 3,99x
Nbr of Employees 212 000
Free-Float 99,7%
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Technical analysis trends BANK OF AMERICA CORPORATION
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Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 42,73 $
Last Close Price 42,18 $
Spread / Highest target 18,5%
Spread / Average Target 1,29%
Spread / Lowest Target -17,0%
EPS Revisions
Managers and Directors
NameTitle
Brian T. Moynihan Chairman, President & Chief Executive Officer
Paul M. Donofrio Chief Financial Officer
Catherine P. Bessant Co-COO & Chief Technology Officer
Thomas Kell Montag Co-Chief Operating Officer
Andrea B. Smith Chief Administrative Officer
Sector and Competitors