For more than 200 years, Bank of America has been focused on serving the financial needs of our customers and clients. Today, we provide a full range of banking, investment management and other financial and risk-management products and services to three groups of customers – people, companies and institutional clients – through our eight lines of business. We have made significant progress in strengthening and transforming our company in support of our purpose – to help make financial lives better, through the power every connection.
To support our focus on serving the core financial needs of our customers and clients, we have continued to streamline and simplify the company by selling more than $70 billion in non-core assets, reducing legacy risk positions and building strong capital ratios and liquidity.
Accelerating the transition to a lower-carbon economy
Overall, we have committed $70 billion in environmental business over the course of 16 years – the largest commitment among our peers. In 2012 we completed our first commitment of $20 billion in environmental business that was set in 2004 – four and a half years early. In 2013, we launched a new $50 billion environmental business commitment – we’ve already delivered $5.5 billion towards this new 10-year goal.
Over the past three years, we have quadrupled our renewable energy business. Bank of America issued the first ever corporate “Green Bond” in late 2013 — raising $500 million to finance energy efficiency and renewable energy projects. Our wealth management businesses offer Environmental/Social/Governance investments to individuals, 401(k) participants, foundations and endowments at all asset levels.
Reducing our own impact
We set and are working toward meeting several aggressive energy, waste and water reduction goals by 2015, including:
- Reducing our global water consumption by 20%
- Reducing our greenhouse gas emissions by 30%
- 20% LEED certification within our corporate workplace portfolio
Leading the way
- Added to the Dow Jones Sustainability Index in 2013.
- Named to CDP Global 500 and S&P 500 Climate Disclosure and Performance Leadership Indices.
- Bank of America Merrill Lynch named as Most Innovative in Climate Change & Sustainability by The Banker magazine three years in a row.
- Joined Stanford University’s Global Climate and Energy Project in 2013. This is a collaboration of academic and business experts that identifies and supports new avenues of research to make environmentally sustainable, low-cost energy available to everyone.
- Working with the World Resources Institute (WRI) to develop a set of standard methodologies for accounting of financed greenhouse gas emissions.
Bank of America – Merrill Lynch
250 Monroe Ave NW Suite 600
Grand Rapids , MI 49503
Portfolio Management Officer III
Global Commercial Banking
Bank of America Merrill Lynch