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 45 is higher than 96% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Bank Of America's reported carbon emissions
In 2023, Bank of America reported significant carbon emissions, with Scope 1 emissions totalling approximately 63,978,000 kg CO2e and Scope 2 emissions amounting to about 5,103,110 kg CO2e (location-based). The bank's total emissions for the year reached approximately 69,081,110 kg CO2e when combining these two scopes. The bank has set an ambitious target to achieve net zero greenhouse gas (GHG) emissions across its financing activities, operations, and supply chain by 2050. This commitment aligns with their support for the Paris Climate Agreement and reflects a long-term strategy to mitigate climate impact. In previous years, Bank of America has disclosed its emissions data across various scopes. For instance, in 2022, the bank's total emissions were approximately 1,750,939,000 kg CO2e, with Scope 1 emissions at about 66,775,000 kg CO2e, Scope 2 emissions (market-based) at approximately 17,794,000 kg CO2e, and Scope 3 emissions contributing significantly to the total. The bank's ongoing efforts to reduce its carbon footprint demonstrate a proactive approach to environmental sustainability, aiming to integrate climate considerations into its business operations and decision-making processes.
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| 2010 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 106,870,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| 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 committed to any reduction initiatives 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.
