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 50 is higher than 73% 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 2024, Bank of America reported total carbon emissions of approximately 202,400,000 kg CO2e, encompassing Scope 1 and Scope 2 emissions. This figure reflects the bank's ongoing commitment to reducing its carbon footprint. In 2023, the bank's emissions were reported as follows: in the US, Scope 1 emissions were about 63,978,000 kg CO2e, and Scope 2 emissions (location-based) were approximately 510,311,000 kg CO2e, leading to a combined total of about 574,289,000 kg CO2e. Bank of America has set ambitious targets to reduce its greenhouse gas emissions. The bank aims to achieve a 75% reduction in location-based emissions by 2030, relative to a 2010 baseline. As of 2022, it has already achieved a 61% reduction in these emissions globally. Furthermore, the bank has committed to reaching net zero emissions across its operations, financing activities, and supply chain by 2050. The bank's climate commitments are aligned with the International Energy Agency's Net Zero Emissions by 2050 pathway, particularly focusing on the iron and steel production sector. This includes a target to reduce emissions associated with clients' Scope 1 and 2 emissions by 27% by 2030. Overall, Bank of America's proactive approach to climate action demonstrates its dedication to sustainability and reducing its environmental impact, with a clear roadmap for future reductions.
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| 2010 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 106,870,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | - | - |
| Scope 2 | 1,644,068,000 | 000,000,000 | 0,000,000 | 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 | - | - |
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.
