Bank Of America

Bank of America, headquartered in the US financial services industry, reported approximately 3.09 billion kg CO2e in total carbon emissions for 2024.

Their 2024 emissions data indicates:

• Scope 1 emissions were approximately 65.76 million kg CO2e.
• Market-based Scope 2 emissions were about 16.59 million kg CO2e, while location-based Scope 2 emissions were approximately 617.41 million kg CO2e.
• Scope 3 emissions amounted to approximately 2.41 billion kg CO2e. Key categories within Scope 3 included purchased goods and services (about 1.63 billion kg CO2e), downstream transportation and distribution (1 billion kg CO2e), and employee commute (approximately 314.71 million kg CO2e).

Looking at previous years, their total emissions were approximately 3.23 billion kg CO2e in 2023, about 3.16 billion kg CO2e in 2022, and roughly 2.06 billion kg CO2e in 2021.

Bank of America has made several climate commitments:

• They aim to achieve net zero greenhouse gas (GHG) emissions across their financing activities, operations, and supply chain before 2050, building on their support for the Paris Climate Agreement. This long-term net zero target for all scopes is from a 2023 baseline.
• For near-term targets, they are committed to reducing their location-based Scope 1 and Scope 2 GHG emissions by 75% by 2030 from a 2010 baseline.
• They also aim to reduce Scope 1 and Scope 2 emissions to near zero by mid-decade (2025) from a 2023 baseline.
• The company has achieved significant reductions in the past, having reduced location-based emissions (Scope 1 and 2) by 61% globally since 2010 as of 2022.