Bank of America Accomplishes 100% Renewable Electricity Goal Year Ahead

Bank of America has announced that it has met its 100 percent renewable electricity (or carbon neutrality) goal a year ahead of its schedule. However, it is impending to the third-party verification.

It was accomplished by decreasing Scope 1 and 2 emissions from its facilities, procuring 100 percent renewable power and buying carbon offsets for its enduring inevitable emissions.

Remarking on the development, Brian Moynihan, CEO of Bank of America, said “we are delivering responsible growth by focusing on serving our clients, investing in our teammates, supporting the communities where we operate – AND by addressing important societal priorities.”

“Being carbon neutral is core to our $300 billion, 10-year environmental business initiative that is helping finance the transition to a low-carbon future,” Moynihan added.

As part of the lender’s long-term pledge to reduce the environmental impact of its operations, it has concluded reduced emissions by over 50 percent in its facilities since 2010.

The bank has met its 100 percent renewable electricity goal by – installing on-site solar capability at many of its facilities, including office locations and financial centers, and on ATMs; completing multiple long-term renewable agreements which will add new wind and solar electricity to the grid; and purchasing Renewable Energy Credits (RECs).