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 72% 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 from its operations in the US, totalling approximately 63,978,000 kg CO2e for Scope 1 emissions and about 4,842,000 kg CO2e for Scope 2 emissions (market-based). The combined total for Scope 1 and Scope 2 emissions reached around 68,821,000 kg CO2e. Notably, the bank has set ambitious targets to reduce its location-based emissions by 75% by 2030, building on a previous commitment to achieve a 50% reduction by 2020, which it has since surpassed with a reported 61% reduction in location-based emissions globally since 2010. Bank of America is also committed to achieving net zero emissions across its financing activities, operations, and supply chain by 2050. This commitment aligns with the International Energy Agency's Net Zero Emissions by 2050 pathway, particularly focusing on the emissions associated with the production of crude steel, which is a significant contributor to its Scope 1 and 2 emissions. The bank's emissions data is sourced directly from Bank of America Corporation, with no cascaded data from other entities. The organisation continues to enhance its sustainability initiatives, aiming for near-zero emissions in both Scope 1 and Scope 2 by the mid-2020s.
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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 |
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.
