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 48 is higher than 96% 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 across various scopes. The total emissions for the year were approximately 3,457,000 kg CO2e, with Scope 1 emissions at about 836,000 kg CO2e and Scope 2 emissions at approximately 2,621,000 kg CO2e. The bank's Scope 3 emissions, which include indirect emissions from its value chain, were substantial, amounting to around 1,336,490,000 kg CO2e. Bank of America has committed to achieving net zero greenhouse gas emissions across its financing activities, operations, and supply chain by 2050. This commitment builds on its support for the Paris Climate Agreement and reflects a long-term strategy to mitigate climate impact. The bank's emissions data indicates a comprehensive approach to tracking and managing its carbon footprint, with disclosures across all relevant scopes (1, 2, and 3). The bank's emissions reduction initiatives are aligned with industry standards and demonstrate a proactive stance towards environmental sustainability. As it moves forward, Bank of America aims to enhance its climate commitments and reduce its overall emissions in line with its net zero target.
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| 2010 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 106,870,000 | 00,000,000 | 00,000,000 | 000,000 | 000,000 |
| Scope 2 | 1,644,068,000 | 0,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 2,650,834,000 | 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.
