Bank Of America Sustainability Profile
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 47 is higher than 68% 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 63978000 kg CO2e for Scope 1 and about 4842000 kg CO2e for Scope 2 (market-based). The combined total for Scope 1 and Scope 2 emissions reached about 68821000 kg CO2e. Notably, the bank has committed to reducing its location-based emissions by 75% by 2030, a target that aligns with its broader goal of achieving net zero emissions across its operations, financing activities, and supply chain before 2050. Since 2010, Bank of America has successfully reduced its location-based emissions by 61% globally, demonstrating a strong commitment to sustainability. The bank's initiatives include a near-zero target for both Scope 1 and Scope 2 emissions by 2025, further reinforcing its dedication to climate action. The emissions data is sourced from Bank of America Corporation, with no cascaded data from other corporate entities. The bank's climate commitments reflect its alignment with industry standards and its proactive approach to addressing climate change.
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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 | 00,000,000 | 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 |
How Carbon Intensive is Bank Of America's Industry?
How Carbon Intensive is Bank Of America's Location?
Bank Of America's Scope 3 Categories Breakdown
Bank Of America's Scope 3 emissions, which increased by 7% last year and increased by approximately 146% since 2010, demonstrating supply chain emissions tracking. Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 48% of Scope 3 emissions.
Top Scope 3 Categories
Bank Of America's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Bank Of America has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
