POST Online Media Lite Edition


Bank of America commits to 100 percent renewable electricity

Staff Writer |
Bank of America announced new environmental operations goals to be met by 2020, including plans to go carbon neutral.

Article continues below

Bank of America will work to reduce location-based greenhouse gas (GHG) emissions by 50 percent, energy use by 40 percent, and water use by 45 percent in its operations across the globe by 2020.

In addition, Bank of America has committed to purchasing 100 percent renewable electricity and has joined RE100, a global initiative led by The Climate Group in partnership with CDP and part of the We Mean Business Take Action campaign.

These new commitments build on the success of the company’s 2015 operations goals and the deployment of its $125 billion environmental business initiative.

From 2010 to 2015, the company reduced its greenhouse gas emissions by 37 percent, primarily through implementing energy efficiency projects, consolidating space and leveraging a less carbon-intensive grid.

To achieve carbon neutrality, the bank will continue to scale its energy efficiency and conservation efforts, purchase 100 percent renewable electricity, and utilize carbon offsets.

The company is already engaging in activities through efforts to modernize its data center footprint to support the carbon neutrality, energy reduction and water reduction goals.

Additionally, the bank recently purchased Texas-based wind power for the company’s Texas data centers.

This represents nearly half of statewide electricity purchases and will contribute five percentage points toward the 2020 carbon neutral goal. The bank is also implementing a wide variety of energy efficiency programs, such as lighting upgrades planned for 900 financial centers in 2016.

What to read next

Berkshire Hathaway to become Bank of America's top shareholder
SEC charged Bank of America with defrauding in mortgage securities
Bank of America fined $30 million for debt collection