Bank Of America
Bank of America Corporation, commonly referred to as Bank of America, is a leading financial institution headquartered in the United States. Established in 1904, the bank has evolved into a global powerhouse, primarily serving clients across North America, Europe, and Asia. Operating within the banking and financial services industry, Bank of America offers a diverse range of products, including personal banking, investment services, and wealth management. Renowned for its innovative digital banking solutions, Bank of America stands out with its user-friendly mobile app and extensive ATM network. The bank has consistently maintained a strong market position, being one of the largest banks in the US by assets. With a commitment to sustainability and community development, Bank of America has achieved numerous accolades, solidifying its reputation as a trusted financial partner.
DitchCarbon Score
How does Bank Of America's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Bank Of America's score of 53 is higher than 75% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Bank Of America's reported carbon emissions
In 2023, Bank of America reported significant carbon emissions, totalling approximately 688,210,000 kg CO2e across all scopes. This includes 68,050,000 kg CO2e from Scope 1 emissions and 17,736,000 kg CO2e from Scope 2 emissions (market-based). The majority of their emissions stem from Scope 3, which accounted for about 1,600,000,000 kg CO2e, primarily from purchased goods and services (1,722,654,000 kg CO2e) and employee commuting (355,974,000 kg CO2e). Bank of America has set ambitious climate commitments, aiming to achieve a 75% reduction in location-based emissions by 2030, relative to a 2010 baseline. This target applies to both Scope 1 and Scope 2 emissions. As of 2022, the bank has already achieved a 61% reduction in these emissions globally since 2010. Furthermore, they have committed to reaching net zero emissions across their operations, financing activities, and supply chain by 2050, aligning with the International Energy Agency's Net Zero Emissions by 2050 pathway. These initiatives reflect Bank of America's proactive approach to addressing climate change and reducing their carbon footprint, demonstrating their commitment to sustainability and environmental responsibility.
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| 2010 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Scope 1 | 106,870,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 1,644,068,000 | 000,000,000 | 0,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 1,450,834,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Bank Of America is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
